<SEC-DOCUMENT>0001567619-16-002941.txt : 20160914
<SEC-HEADER>0001567619-16-002941.hdr.sgml : 20160914
<ACCEPTANCE-DATETIME>20160914162556
ACCESSION NUMBER:		0001567619-16-002941
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		79
CONFORMED PERIOD OF REPORT:	20160914
FILED AS OF DATE:		20160914
DATE AS OF CHANGE:		20160914

FILER:

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

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33869
		FILM NUMBER:		161885325

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

	MAIL ADDRESS:	
		STREET 1:		C/O STAR BULK MANAGEMENT INC.
		STREET 2:		40 AGIOU KONSTANTINOU STR, MAROUSSI
		CITY:			ATHENS
		STATE:			J3
		ZIP:			15124
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
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<FILENAME>s001408x1_6k.htm
<DESCRIPTION>FORM 6-K
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 14pt">UNITED STATES</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 14pt">SECURITIES AND EXCHANGE COMMISSION</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font><font style="FONT-SIZE: 12pt">Washington, D.C. 20549</font><br>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 18pt; FONT-WEIGHT: bold">FORM 6-K</div>

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

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

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">For the month of September 2016</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Commission File Number:&#160; 001-33869<br>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 24pt; FONT-WEIGHT: bold">STAR BULK CARRIERS CORP.</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(Translation of registrant&#8217;s name into English)<br>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Star Bulk Carriers Corp.<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font>c/o Star Bulk Management Inc.<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font>40 Agiou Konstantinou Street,<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font>15124 Maroussi,<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font>Athens, Greece<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(Address of principal executive office)</font></div>

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

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

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

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

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

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

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

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

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Note</font>:&#160; Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant&#8217;s &#8220;home country&#8221;), or under the rules of the home country exchange on which the registrant&#8217;s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant&#8217;s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The information contained in this Form 6-K and Exhibit 99.1 is hereby incorporated by reference into the registrant&#8217;s Registration Statements on Form F-3 (File Nos. 333-197886 and 333-198832) and Registration Statement on Form S-8 (File No. 333-176922), to be a part thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Exhibit 99.2 to this Form 6-K is being furnished to disclose the press release issued by the Registrant on September 14, 2016. The purpose of the press release, furnished as Exhibit 99.2, was to announce the Registrant&#8217;s financial results for the second quarter and first half of 2016 and to announce the Registrant&#8217;s agreement with its lenders to defer 100% of Its debt repayment for 25 months to June 30, 2018 and to waive or substantially relax the financial covenants of Its debt facilities until December 31, 2019. The information in Exhibit 99.2 attached hereto shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of the Securities Act of 1934.</div>
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<div style="TEXT-ALIGN: center; FONT-WEIGHT: bold">INFORMATION CONTAINED IN THIS FORM 6-K REPORT</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Attached as Exhibit 99.1 to this Form 6-K is a Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations and the unaudited interim condensed consolidated financial statements of Star Bulk Carriers Corp. (the &#8220;Company&#8221; or &#8220;Star Bulk&#8221;) as of and for the six months ended June 30, 2016 and 2015.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Attached as Exhibit 99.2 is a copy of the press release of Star Bulk dated September 14, 2016, titled Star Bulk Carriers Corp. Reports Financial Results for the Second Quarter and First Half of 2016, and Announces Agreement with Its Lenders to Defer 100% of Its Debt Repayment for 25 Months to June 30, 2018 and to Waive or Substantially Relax the Financial Covenants of Its Debt Facilities until December 31, 2019.<br>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING INFORMATION</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">This Form 6-K, and the documents to which the Company refers in this Form 6-K, as well as information included in oral statements or other written statements made or to be made by the Company, contain &#8220;forward-looking statements,&#8221; within the meaning of Section 27A of the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), and Section 21E of the Exchange Act, 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, &#8220;believe,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;intend,&#8221; &#8220;plan,&#8221; &#8220;targets,&#8221; &#8220;projects,&#8221; &#8220;likely,&#8221; &#8220;would,&#8221; &#8220;could&#8221; and similar expressions or phrases may identify forward-looking statements.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">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.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">In addition, important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include:</div>

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<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">general dry bulk shipping market conditions, including fluctuations in charterhire rates and vessel values;</td>
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<div style="TEXT-ALIGN: justify">&#160;</div>

<div style="TEXT-ALIGN: justify">
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<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">the strength of world economies;</td>
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<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z7eaefd42549444fab31c9df701e3c22a" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">the stability of Europe and the Euro;</td>
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<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">fluctuations in interest rates and foreign exchange rates;</td>
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<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zeb12721987ce42be995fc547a22bc9d7" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">changes in demand in the dry bulk shipping industry, including the market for our vessels;</td>
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<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z16985a64008243ef9da89d2a94582beb" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">changes in our operating expenses, including bunker prices, dry docking and insurance costs;</td>
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<div style="TEXT-ALIGN: justify">
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<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">changes in governmental rules and regulations or actions taken by regulatory authorities;</td>
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<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">potential liability from pending or future litigation;</td>
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<div style="TEXT-ALIGN: justify">
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<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">general domestic and international political conditions;</td>
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<div style="TEXT-ALIGN: justify">&#160;</div>

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z9da21a2789b643698363e9640a7bfc25" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">potential disruption of shipping routes due to accidents or political events;</td>
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<div style="TEXT-ALIGN: justify">&#160;</div>

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z8134d36b4c2a4de98d5fd0a33c8d1db3" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">the availability of financing and refinancing;</td>
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<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">our ability to meet requirements for additional capital and financing to complete our newbuilding program and grow our business;</td>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">the impact of the level of&#160;our indebtedness and the restrictions in our debt agreements;</div>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">vessel breakdowns and instances of off-hire;</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">potential conflicts of interest involving our Chief Executive Officer, his family and other members of our senior management;</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">our ability to complete the restructuring of our indebtedness with our various lenders; and</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">the risk factors and other factors referred to in the Company&#8217;s reports filed with or furnished to the SEC.</td>
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<div><br>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Consequently, all of the forward-looking statements we make in this document are qualified by the information contained or referred to herein, including, but not limited to, (i)&#160;the information contained under this heading and (ii)&#160;the information disclosed in the Company&#8217;s annual report on Form 20-F for the fiscal year ended 2015, filed with the SEC on March 22, 2016.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">You should carefully consider the cautionary statements contained or referred to in this section in connection with any subsequent written or oral forward-looking statements that may be issued by us or persons acting on our behalf. Except as required by law, the Company undertakes no obligation to update any of these forward-looking statements.</div>

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

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

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; MARGIN-RIGHT: 3.3pt">Date:&#160; September 14, 2016</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">STAR BULK CARRIERS CORP.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(Registrant)</div>
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<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: top" colspan="2">&#160;/s/ Simos Spyrou</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Simos Spyrou</div>
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</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">No.&#160; &#160; &#160; &#160;</font></div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">99.1</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations and our unaudited interim condensed consolidated financial statements of the Company as of and for the six months ended June 30, 2015 and 2016.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Press Release of the Company, dated September 14, 2016, titled Star Bulk Carriers Corp. Reports Financial Results for the Second Quarter and First Half of 2016, and Announces Agreement with Its Lenders to Defer 100% of Its Debt Repayment for 25 Months to June 30, 2018 and to Waive or Substantially Relax the Financial Covenants of Its Debt Facilities until December 31, 2019.</div>

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<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">EXHIBIT 99.1</div>

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

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS OF</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FINANCIAL CONDITION AND RESULTS OF OPERATIONS</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The following is a discussion of financial condition and results of operations of Star Bulk Carriers Corp. (&#8220;Star Bulk&#8221;) for the six-month periods ended June 30, 2015 and 2016.&#160; Unless otherwise specified herein, references to the &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us&#8221; or &#8220;our&#8221; shall include Star Bulk and its subsidiaries.&#160; You should read the following discussion and analysis together with the unaudited interim condensed consolidated financial statements and related notes included elsewhere in this report.&#160; For additional information relating to our management&#8217;s discussion and analysis of financial conditions and results of operation, please see our Annual Report on Form 20&#8209;F for the year ended December 31, 2015, which was filed with the U.S. Securities and Exchange Commission (the &#8220;Commission&#8221;) on March 22, 2016.&#160; This discussion includes forward-looking statements which, although based on assumptions that we consider reasonable, are subject to risks and uncertainties which could cause actual events or conditions to differ materially from those currently anticipated and expressed or implied by such forward-looking statements.</div>

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

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">We are a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector.&#160; Our vessels transport major bulks, which include iron ore, coal and grain and minor bulks which include bauxite, fertilizers and steel products.&#160; We were incorporated in the Marshall Islands on December 13, 2006 and on December 3, 2007, we commenced operations when we took delivery of our first vessel.</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">In July 2014, we acquired Oceanbulk Shipping LLC and Oceanbulk Carriers LLC, which were entities controlled by Oaktree Capital Group, L.P., as well as Dioriga Shipping Co. and Positive Shipping Company, which were entities owned and controlled by affiliates of the family of Mr. Pappas.&#160; In August 2014, we entered into definitive agreements with Excel Maritime Carriers Ltd., pursuant to which we acquired 34 dry bulk carrier vessels (the &#8220;Excel Vessels&#8221;).</div>

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

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Our fleet carries a variety of dry bulk commodities including coal, iron ore, and grains, or major bulks, as well as bauxite, phosphate, fertilizers and steel products, or minor bulks.&#160; As of September 9, 2016, our operating fleet consisted of 69 vessels with an aggregate carrying capacity of approximately 7.3 million dwt.&#160; Our fleet also includes five newbuilding vessels under construction at a shipyard in China, all of which are expected to be delivered during 2017, and 2018.&#160; When our newbuilding program is completed in the first quarter of 2018, on a fully delivered basis we expect our 73-vessel fleet to have an average age of 8.3 years and an aggregate carrying capacity of 8.2 million dwt, consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax and Supramax vessels with carrying capacities between 52,055 dwt and 209,537 dwt.</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Our fleet also includes one chartered-in vessel, the <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Astakos </font>(ex-<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Maiden Voyage</font>), which we sold on September 15, 2015 to a third party and chartered in under a two-year time charter that is accounted for as an operating lease.</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The following tables present summary information relating to our existing fleet, our newbuilding vessels, chartered-in vessel and the third party vessel under our management as of September 9, 2016:</div>

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

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

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Built</div>
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<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Date Delivered to Star Bulk</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1</div>
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Goliath</div>
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">209,537</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-15</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Gargantua</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">209,529</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">April-15</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">3</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Poseidon</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">209,475</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2016</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">February-16</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">4</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Maharaj</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">209,472</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2016</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-15</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">5</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Libra (1)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">207,765</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2016</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">June-16</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">6</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Marisa (1)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">207,709</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2016</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">March-16</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Leviathan</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">182,511</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2014</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">8</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Peloreus</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">182,496</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2014</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">9</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Martha</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">180,274</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2010</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">October-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">10</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Pauline</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">180,274</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2008</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">11</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Pantagruel</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">180,181</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2004</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">12</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Borealis</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">179,678</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2011</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September-11</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">13</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Polaris</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">179,600</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2011</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">November-11</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">14</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Angie</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">177,931</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2007</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">October-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">15</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Big Fish</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">177,662</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2004</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">16</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kymopolia</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">176,990</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">17</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Big Bang</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">174,109</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2007</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">18</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Aurora</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">171,199</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2000</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September-10</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">19</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Despoina</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">170,162</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1999</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">20</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Eleonora</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">164,218</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2001</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">21</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Amami</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Post Panamax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">98,681</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2011</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">22</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Madredeus</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Post Panamax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">98,681</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2011</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">23</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Sirius</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Post Panamax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">98,681</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2011</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">March-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">24</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Vega</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Post Panamax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">98,681</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2011</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">February-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">25</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Angelina</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,981</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">26</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Gwyneth</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,790</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">27</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Kamila</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,769</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2005</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">28</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Pendulum</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,619</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">29</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Maria</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,598</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2007</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">November-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">30</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Markella</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,594</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2007</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">31</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Danai</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,574</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">October-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">32</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Georgia</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,298</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">October-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">33</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Sophia</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,269</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2007</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">October-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">34</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Mariella</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,266</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">35</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Moira</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,257</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">November-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">36</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Nina</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,224</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">January-15</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">37</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Renee</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,221</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">38</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
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</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,220</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
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<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">August-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">39</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
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</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
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</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">40</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
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<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
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<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,209</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
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</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">April-15</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">41</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Helena</div>
</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,187</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
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</td>
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<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">42</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
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<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">81,545</div>
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<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">43</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
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</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Panamax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">76,466</div>
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2004</div>
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September-14</div>
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</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">44</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
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<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
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</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">76,429</div>
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<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2004</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
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</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">45</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
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</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">76,417</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2004</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">46</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
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<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">72,493</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1999</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">November-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">47</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">63,458</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">March-15</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">48</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">63,426</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
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<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">March-15</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">49</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
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</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">63,399</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
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</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">50</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
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</td>
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<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
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</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">63,283</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">June-15</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">51</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">63,262</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
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</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">January-16</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
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<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
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<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">63,226</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
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</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">March-16</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">53</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61,462</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2012</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-13</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">54</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Fighter</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultramax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61,455</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2013</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-13</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">55</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Lutas</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultramax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61,347</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2016</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">January-16</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">56</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Honey Badger</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultramax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61,320</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">February-15</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">57</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Wolverine</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultramax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61,292</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">February-15</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">58</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Antares</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultramax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61,258</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">October-15</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">59</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Acquarius</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultramax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">60,916</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-15</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">60</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Pisces</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultramax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">60,916</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">August-15</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Strange Attractor</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Supramax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">55,742</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-14</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">62</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Omicron</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Supramax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">53,489</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2005</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">April-08</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">63</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Gamma</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Supramax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">53,098</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2002</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">January-08</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">64</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Zeta</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Supramax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52,994</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2003</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">January-08</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">65</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Delta</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Supramax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52,434</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2000</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">January-08</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">66</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Theta</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Supramax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52,425</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2003</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-07</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">67</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Epsilon</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Supramax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52,402</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2001</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-07</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">68</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Cosmo</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Supramax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52,247</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2005</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-08</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 6%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">69</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Kappa</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Supramax</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52,055</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2001</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-07</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 6%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total dwt:</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">7,257,037</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 18%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 17.34%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>
</table>

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

<div>
<hr style="TEXT-ALIGN: left; BACKGROUND-COLOR: #000000; WIDTH: 15%; HEIGHT: 2px; COLOR: #000000; MARGIN-LEFT: 0px; MARGIN-RIGHT: auto" align="left" noshade="noshade">
</div>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z545979976d574ecea978e4cd2ee5207d" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Subject to a bareboat charter accounted for as a capital lease</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z2e7a8fb12392438baa2b302cc5d98e54" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Vessel agreed to be sold and due for delivery to its new owner.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">2</font></div>

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

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

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

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z98cf8751374d43109e3860fd6411d7fb" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 6.04%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 28%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessel Name</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 18.03%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessel Type</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Capacity</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(dwt.)</div>
</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 14%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Shipyard</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 17.01%; VERTICAL-ALIGN: bottom">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Expected </div>

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

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Date</div>
</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6.04%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 28%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">HN 1371 (tbn <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Virgo</font>)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">&#160;</sup>(1)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18.03%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">208,000</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 14%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">SWS, China</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.01%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Jan-17</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6.04%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 28%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">HN 1360 (tbn <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Ariadne</font>)&#160; (1)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18.03%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">208,000</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 14%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">SWS, China</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.01%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Feb-17</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 6.04%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">3</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 28%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">HN 1342 (tbn <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Gemini</font>)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18.03%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">208,000</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 14%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">SWS, China</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.01%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Jul-17</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 6.04%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">4</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 28%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">HN 1361 (tbn <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Magnanimus</font>) (1)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 18.03%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">208,000</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 14%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">SWS, China</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.01%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Jan-18</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 6.04%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">5</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 28%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">HN 1343 (tbn <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Leo</font>)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 18.03%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">208,000</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 14%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">SWS, China</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 17.01%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Jan-18</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 6.04%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 28%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 18.03%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total dwt:</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1,040,000</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 17.01%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>
</table>

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

<div>
<hr style="TEXT-ALIGN: left; BACKGROUND-COLOR: #000000; WIDTH: 15%; HEIGHT: 2px; COLOR: #000000; MARGIN-LEFT: 0px; MARGIN-RIGHT: auto" align="left" noshade="noshade">
</div>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z0df67b68b26f42cdb92210d68e88e545" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 18pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Subject to a bareboat charter that will be accounted for as a capital lease.</td>
</tr>
</table>
</div>

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

<div>
<hr style="TEXT-ALIGN: left; BACKGROUND-COLOR: #000000; WIDTH: 15%; HEIGHT: 2px; COLOR: #000000; MARGIN-LEFT: 0px; MARGIN-RIGHT: auto" align="left" noshade="noshade">
 As used herein, &#8220;SWS&#8221; refers to Shanghai Waigaoqiao Shipbuilding Co., Ltd.</div>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: -18pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Chartered-In Vessel</u></div>

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

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z19a5b35edc60468da22a43a4b8b020a2" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 25%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessel Name</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 24%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Type</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 24%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Capacity (dwt.)</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 24%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Built</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Astakos (ex-Maiden Voyage)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 24%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Supramax</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #cceeff; WIDTH: 24%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">58,722</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 24%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2012</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 24%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total dwt:</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #ffffff; WIDTH: 24%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">58,722</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 24%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>
</table>

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

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

<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Liquidity and Capital Resources</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Our principal source of funds has been equity provided by our shareholders, additional debt under secured credit facilities or debt securities and operating cash flow.&#160; Our principal use of funds has been capital expenditures to grow our fleet, maintain the quality of our dry bulk carriers, comply with international shipping standards and environmental laws and regulations, fund working capital requirements, make interest and principal repayments on outstanding indebtedness and pay dividends.</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Our short-term liquidity requirements include servicing our debt, payment of operating costs, funding working capital requirements and maintaining cash reserves against fluctuations in operating cash flows and financing activities and paying cash dividends when we are able to do so.&#160; Our primary source of short-term liquidity is our operating revenues.</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Our medium- and long-term liquidity requirements are funding newbuilding vessels and funding required repayments under our vessel financings and other debt agreements.&#160; Sources of funding for our medium- and long-term liquidity requirements include new loans, capital leases, equity issuance or vessel sales.</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">As of June 30, 2016, we had outstanding borrowings (including capital lease commitments) of $984.3 million, of which $9.1 million is scheduled to be repaid in the next twelve months.&#160; As of June 30, 2016, cash and cash equivalents decreased to $140.6 million compared to $208.1 million as of December 31, 2015.&#160; Legally restricted cash, due to cash collateral requirements contained in our loan agreements, was decreased to $13.9 million as of June 30, 2016, compared to $14.0 million as of December 31, 2015.</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">In addition as of September 9, 2016, our fleet included 69 operating vessels with an aggregate carrying capacity of approximately 7.3 million dwt and five newbuilding vessels under construction at a shipyard in China, all of which are expected to be delivered by the first quarter of 2018. In addition, our operating fleet includes one chartered-in vessel under an operating lease expiring in September 2017. As of September 9, 2016, the total payments for our remaining five newbuilding vessels were expected to be $193.4 million. As of September 9, 2016, we had $150.2 million of cash on hand and we had obtained commitments for $119.9 million of secured financing for three out of five newbuilding vessels. We are also in negotiations to obtain a commitment for up to $40.0 million of secured financing for the fourth newbuilding vessel and, based on current market valuations, we expect to incur approximately $24.3 million of secured debt for the fifth newbuilding vessel. As of September 9, 2016, the average age of our operating fleet was 7.3 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 companies by deadweight tonnage.</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">For information relating to our loan agreements and lease obligations, please see Note 5, 6, 8 and 17 to our audited consolidated financial statements for the year ended December 31, 2015 included in our annual report on Form 20&#8209;F, which was filed with the Commission on March 22, 2016, and Notes 5, 6, 8, 13 and 15 to our unaudited interim condensed consolidated financial statements for the six-month period ended June 30, 2016, included elsewhere herein.</div>

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

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

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

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="za3328d6fa2664e39b693ddecf033f559" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">a minimum ratio of vessel&#8217;s value to loans secured (&#8220;SCR&#8221;);</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zc51c4f9d91a74019a41affbe60398e1e" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">a maximum ratio of total liabilities to market value adjusted total assets;</td>
</tr>
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</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z7f693504e8a34ddab4e20884d64fe2bb" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">a minimum EBITDA to interest coverage ratio;</td>
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<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z8691d6b15d5346bcb2860fff67fcd021" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">a minimum liquidity; and</td>
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<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z55739181a47e4e2f8fb1cbfe2e7d01a1" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">a minimum equity ratio</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

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

<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">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.&#160; An SCR shortfall does not automatically trigger the acceleration of the corresponding loans or constitute a default under the relevant loan agreements.&#160; Under these loan agreements, we may remedy an SCR shortfall within a period of 10 to 30 days after we receive notice from the lenders by providing additional collateral or repaying the amount of the shortfall.&#160; As such, as of December 31, 2015, $14.3 million (which was the amount that could be made repayable under the SCR provisions by the lenders, (or &#8220;SCR Shortfall Amount&#8221;) was reclassified as current portion of long-term debt within current liabilities.&#160; Apart from this, as of December 31, 2015, we were in compliance with the applicable financial and other covenants contained in our debt agreements, including the 2019 Notes.</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">In an effort to improve our liquidity position, we and all 15 of our banks and export credit agencies (the &#8220;Lenders&#8221;) are currently in the process of completing a global restructuring of&#160;our existing credit agreements (the &#8220;Credit Agreements&#8221;) that will effectively defer $223.9 million, equal to 100%, of our principal payments (including all scheduled amortization and balloon payments at stated maturity)&#160;due between&#160;June 1, 2016&#160;and June 30, 2018 (the &#8220;Deferral Period&#8221;) and waive in full or substantially relax the financial and other covenants in our Credit Agreements until December 31, 2019. We have entered into separate standstill agreements (&#8220;Standstill Agreements&#8221;) and restructuring letter agreements (&#8220;RLAs&#8221;) with each of the Lenders (together, the &#8220;Restructuring Transactions&#8221;).&#160; Each Standstill Agreement is designed to provide for a waiver and/or relaxation of covenants&#160;and suspension of principal payments until a supplemental agreement (each, a &#8220;Supplemental Agreement&#8221;) is entered into for the permanent restructuring of each Credit Agreement. Each RLA sets forth the material terms of the eventual Supplemental Agreement.</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">During the Standstill Period, (as defined below), each Standstill Agreement provides:</div>

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<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; TEXT-TRANSFORM: none; BACKGROUND-COLOR: #ffffff; FONT-VARIANT: normal; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal">a waiver by the relevant Lenders of compliance with, or the substantial relaxation of, the security cover ratios (&#8220;SCR&#8221;) and all financial covenants under the corresponding Credit Agreement and</div>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>

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<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">a waiver by the relevant Lenders of any failure by us to pay regular installments of principal (including all scheduled amortization and balloon payments at stated maturity) under the corresponding Credit Agreement.</div>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">For each Credit Agreement, the Standstill Agreement is effective for a period (the &#8220;Standstill Period&#8221;) from June 1, 2016 until the earliest to occur of (a) the date a Supplemental Agreement is signed with respect to such Credit Agreement, (b) the date on which, in the reasonable opinion of the relevant Lender, it becomes apparent that the Supplemental Agreement will not become effective, (c) September 30, 2016, if we do not successfully raise $50.0 million of net proceeds from a common equity offering and (d) the date on which any other Lender terminates&#160;its Standstill Agreement.&#160; A number of the Standstill Agreements also contain other customary provisions that&#160;would result in the termination of&#160;the Standstill Period if an event of default (other than with respect to a waived or suspended covenant) occurs, any bankruptcy or insolvency proceeding against us is initiated or we make certain prohibited principal payments on Credit Agreements during the Standstill Period.</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Each RLA has been approved by the credit committee of each Lender party thereto&#160;and provides that we and the Lenders under each Credit Agreement will enter into a Supplemental Agreement to the Credit Agreement, providing, among other things:</div>

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<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zc05b4c2533294cfc86a0ed5f2716304d" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">a deferral of all scheduled principal payments&#160;due between&#160;June 1, 2016&#160;and June 30, 2018 (the &#8220;Deferred Amounts&#8221;) to the due date of the balloon installments of each facility, and</div>
</td>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">a waiver of compliance with, or a substantial relaxation of, the SCRs and financial covenants effective as of March 31, 2016 through a date not earlier than December 31, 2019.</div>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">In exchange, under the RLAs, we have agreed to:</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">a cash sweep mechanism until all Deferred Amounts are repaid in full under which, beginning September 30, 2016, any excess free cash above a certain threshold will be applied pro rata to the payment of the Deferred Amounts outstanding at that time,</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">an additional margin of 25 basis points payable on the Deferred Amounts outstanding at the end of each interest period, to be paid in cash, for as long as Deferred Amounts are outstanding,</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">the payment of a one-time restructuring fee of 25 basis points to each Lender, based on each Lender&#8217;s Deferred Amounts,</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">additional restrictions on our ability to finance the acquisition of additional vessels, other than those already contracted-for, except using the proceeds of additional equity offerings, until the Deferred Amounts have been repaid in full,</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">additional restrictions on our ability to incur additional indebtedness during the Deferral Period unless the proceeds are used to repay amounts outstanding under the Credit Agreements (other than indebtedness with respect to newbuilding vessels under existing shipbuilding contracts or, once Deferred Amounts have been repaid in full, indebtedness incurred to finance the acquisition of new vessels, subject to a cap of 50% loan to value of the new vessels), and</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">certain additional restrictions on our ability&#160; to refinance indebtedness, apply proceeds in case of sale or total loss of vessels, repurchase bonds, reduce our share capital and pay dividends until the Deferred Amounts have been repaid in full.</div>
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<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">5</font></div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 27pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">The&#160;agreement of each Lender to defer the Deferred Amounts owed to it and make modifications to its Credit Agreement under the RLAs (each, a &#8220;Deferral and Modification&#8221;) is subject to certain conditions precedent, including:</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">We shall have raised and received not less than $50.0 million of net proceeds from an additional equity offering (the &#8220;New Equity Condition&#8221;);</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">There shall have not been any defaults or events of default with respect to any of the financial or other covenants under such Lender&#8217;s Credit Agreement (except as explicitly waived or suspended);</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">There shall have not been any bankruptcy or insolvency proceeding or similar proceeding with respect to the obligors under such Lender&#8217;s Credit Agreement; and</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">No action or proceeding shall have been commenced against us or any obligor which, in the opinion of the such Lender, constitutes or may result in a material adverse change in the finance or operations of any obligor or the rights of such Lender in the collateral securing such Lender&#8217;s Credit Agreement.</div>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">To comply with the conditions precedent of the RLAs, we launched today an equity raise for $51.5 million gross proceeds. Three of Star Bulk&#8217;s significant shareholders have indicated that they intend to purchase their pro rata share in such equity raise. This information does not constitute an offer to sell or a solicitation of an offer to buy any security or other financial instrument.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">We may fund possible growth through our cash balances, operating cash flow, additional debt, equity issuances, or vessel sales to the extent acceptable under our existing loan agreements.&#160; Our practice has been to acquire dry bulk carriers using a combination of funds received from equity investors and bank debt secured by mortgages on our dry bulk carriers.&#160; In the event that we determine to finance a portion of the purchase price for new vessel acquisitions with debt, and if the current conditions in the credit market continue, we may not be able to secure new borrowing capacity on favorable terms or at all.&#160; Further, our stock price and the stock price of shipping companies in general have recently been volatile, and we may not be able to raise additional equity financing.&#160; 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.&#160; These transactions will be principally subject to management&#8217;s expectation of future market conditions as well as our ability to acquire dry bulk carriers on favorable terms.</div>

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

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">On July 26, 2016 and August 10, 2016 we entered into separate agreements with third parties to sell the vessels <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Monisha</font> and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Aline</font>, respectively. The vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Monisha</font> was delivered to its new owners on August 17, 2016 and the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Aline</font> is expected to be delivered to its new owners&#160;by the end of September 2016.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">On July 7, 2016, we announced that we have regained compliance with Listing Rule 5450(a)(1) of the NASDAQ Global Select Market with respect to the minimum bid price for our common shares, which the NASDAQ Listing Qualifications Department confirmed in a letter to us dated July 6, 2016.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">On September 12, 2016, our Board of Directors granted 345,000 restricted common shares (the &#8220;September 2016 Share Awards&#8221;) to certain of our directors and officers, as a bonus for the successful execution of the&#160;Restructuring Transactions&#160;with our Lenders, subject to the satisfaction of the New Equity Condition.&#160;Of the common shares subject to the September 2016 Share Awards, 305,000 will vest on March 31, 2017,&#160;and the remaining 40,000 will vest on March 1, 2018.</div>

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

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

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">As of September 9, 2016, we had 69 of our vessels employed in the spot market, under charter agreements of short duration, and five vessels on medium- to long-term time charters, scheduled to expire from January 2017 to May&#160;2017.&#160; Under time charters, the charterer typically pays us a fixed daily charter hire rate and bears all voyage expenses, including the cost of bunkers (fuel oil), port and canal charges.&#160; Under voyage charters, we pay voyage expenses such as port, canal and fuel costs.&#160; Under all charters, we pay for the chartered vessel&#8217;s operating expenses, including the cost of crewing, insuring, repairing and maintaining the vessel, the costs of spares and consumable stores, tonnage taxes and other miscellaneous expenses, and commissions to affiliated and unaffiliated ship brokers and to in-house brokers associated with the charterer for the arrangement of the relevant charter.&#160; In addition, we also pay the dry docking costs related to our vessels.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The following table reflects certain operating data of our fleet, including our ownership days, voyage days, and fleet utilization, which we believe are important measures for analyzing trends in our results of operations, for the periods indicated:</div>

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<div style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">(TCE rates expressed in U.S. dollars)</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Six-month period ended </div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30,</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2016</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2015</div>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Average number of vessels (1)</div>
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<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">71.9</div>
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">67.5</div>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Number of vessels (2)</div>
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<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">70</div>
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<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">69</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Average age of operational fleet (in years) (3)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7.5</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7.9</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Ownership days (4)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">12,896</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">12,210</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Available days (5)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">12,438</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">11,771</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Voyage days for fleet (6)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">10,819</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">9,943</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Fleet utilization (7)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">87.0</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">%</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">84.5</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">%</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Daily time charter equivalent rate (&#8220;TCE&#8221;) (8)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">5,715</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7,806</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

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

<div>
<hr style="TEXT-ALIGN: left; BACKGROUND-COLOR: #000000; WIDTH: 15%; HEIGHT: 2px; COLOR: #000000; MARGIN-LEFT: 0px; MARGIN-RIGHT: auto" align="left" noshade="noshade">
</div>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z043fa9636e30411abd03a741bfeef571" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">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 each operating vessel was a part of our operating fleet during the period divided by the number of calendar days in that period.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z2459fc2328db46f49cac4397ca6ad5f3" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">As of the last day of the periods reported.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z27cec30daf8748a2b0f2b9ec10d591e9" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(3)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Average age of operational fleet is calculated as of June 30, 2016 and 2015, respectively.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z7fb00d963f3947828b9d39904edc404f" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(4)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Ownership days are the total calendar days each vessel in the fleet was owned by us for the relevant period.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z995bd143ce9a459393a72d6d27f2f455" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(5)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Available days for the fleet are the ownership and charter-in days after subtracting off-hire days for major repairs, dry docking or special or intermediate surveys and lay-up days, if any.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zed11414c0bdd4958ab5e3e3cee1e2acc" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(6)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Voyage days are the total days the vessels were in our possession or chartered-in for the relevant period after subtracting off-hire days incurred for any reason (including off-hire for major repairs, dry docking, special or intermediate surveys or lay-up days, if any).</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z570c3012ed6f4f57977bfc76193c0870" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(7)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Fleet utilization is calculated by dividing voyage days by available days for the relevant period.&#160; Ballast days for which a charter is not fixed are not included in the voyage days for the fleet utilization calculation.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z577c6442c0084c07bf5657d98d24c4b7" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(8)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Represents the weighted average daily TCE rates of our entire fleet.&#160; TCE rate is a measure of the average daily revenue performance of a vessel on a per voyage basis.&#160; Our method of calculating TCE rate is determined by dividing voyage revenues (net of voyage expenses and amortization of fair value of above/below market acquired time charter agreements) by voyage days for the relevant time period.&#160; 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.&#160; TCE rate is a standard shipping industry performance measure used primarily to compare period-to-period changes in a shipping company&#8217;s performance despite changes in the mix of charter types (i.e., voyage charters, time charters and bareboat charters) under its vessels may be employed between the periods.&#160; We included TCE revenues, a non-GAAP measure, as it provides additional meaningful information in conjunction with voyage revenues, the most directly comparable GAAP measure, and it assists our management in making decisions regarding the deployment and use of our operating vessels and in evaluating our financial performance.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">7</font></div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The following table reflects the calculation of our TCE rates and reconciliation of TCE revenue to voyage revenue as reflected in the unaudited interim condensed consolidated statement of operations:</div>

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

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z7007c0693db24437b2c236a05b7e2367" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; TEXT-INDENT: -9pt; MARGIN-LEFT: 9pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="6" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Six-month period ended </div>

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

<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">(In thousands of U.S.&#160; Dollars, except as otherwise stated)</div>
</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2016</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2015</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Voyage revenues</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">98,862</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">101,182</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

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

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Voyage expenses</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(37,284</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(30,637</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

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

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Amortization of fair value of below/above market acquired time charter agreements</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">254</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7,071</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Time charter equivalent revenues</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61,832</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">77,616</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Fleet Voyage days</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">10,819</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">9,943</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Daily time charter equivalent (TCE) rate (in U.S.&#160; Dollars)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">5,715</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7,806</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Voyage Revenues</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Voyage revenues are driven primarily by the number of vessels in our fleet, the number of voyage days and the amount of daily charter hire and the level of freight rates that our vessels earn under time and voyage charters, respectively, which, in turn, are affected by a number of factors, including our decisions relating to vessel acquisitions and disposals, the amount of time that we spend positioning our vessels, the amount of time that our vessels spend in dry dock undergoing repairs, maintenance and upgrade work, the age, condition and specifications of our vessels, levels of supply and demand in the seaborne transportation market.</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">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.&#160; 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.&#160; If we employ vessels on period time charters, future spot market rates may be higher or lower than the rates at which we have employed our vessels on period time charters.</div>

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessel Voyage Expenses</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Voyage expenses include hire paid for port and canal charges, fuel (bunker) expenses and brokerage commissions payable to related and third parties.&#160; Our voyage expenses primarily consist of bunkers cost and commissions paid for the chartering of our vessels.</div>

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessel Operating Expenses</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">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.&#160; Other factors beyond our control, some of which may affect the shipping industry in general, including for instance, developments relating to market prices for crew wages, lubricants and insurance, may also cause these expenses to increase.</div>

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

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Dry Docking expenses</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">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.&#160; 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.&#160; We utilize the direct expense method, under which we expense all dry docking costs as incurred.</div>

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

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

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">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.&#160; Depreciation is calculated based on a vessel&#8217;s cost less the estimated residual value.</div>

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

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

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Management fees include fees paid to unaffiliated third-party companies providing certain procurement services to our fleet.</div>

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">General and Administrative Expenses</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">We incur general and administrative expenses, including our onshore personnel related expenses, directors and executives&#8217; compensation, legal and accounting expenses.</div>

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Gain/ (Loss) on Derivative Instruments</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">From time to time, we may take positions in freight derivatives, including freight forward agreements (the &#8220;FFAs&#8221;) 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.&#160; Upon the settlement, if the contracted charter rate is less than the average of the rates, as reported by an identified index, for the specified route and time period, the seller of the FFA is required to pay the buyer an amount equal to the difference between the contracted rate and the settlement rate, multiplied by the number of days in the specified period.&#160; Conversely, if the contracted rate is greater than the settlement rate, the buyer is required to pay the seller the settlement sum.&#160; 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.&#160; Freight options are treated as assets/liabilities until they are settled.</div>

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

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

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">We incur interest expense and financing costs in connection with vessel-specific debt relating to the acquisition of our vessels.&#160; We defer financing fees and expenses incurred upon entering into our credit facilities for our delivered vessels and amortize them to interest and financing costs over the term of the underlying obligation using the effective interest method.</div>

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Gain/ (Loss) on Derivative Financial Instruments</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">F<font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">rom time to time, </font>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.&#160; Interest rate swaps are recorded in the balance sheet as either assets or liabilities, measured at their fair value<font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">.&#160; For derivatives designated as cash flow hedges, the effective portion of the</font> changes in <font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">their</font> fair value <font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">is recorded in Accumulated other comprehensive income / (loss) and is subsequently </font>recognized in earnings, <font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">under &#8220;Interest and finance costs&#8221; when the hedged items impact earnings, while the ineffective portion, if any, is recognized immediately in current period earnings under &#8220;Gain / (Loss) on derivative financial instruments, net&#8221;.&#160; The changes in the fair value of derivatives not qualifying for</font> hedge accounting are <font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">recognized in earnings</font>.</div>

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

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">9</font></div>

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

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

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Inflation does not have a material effect on our expenses given current economic conditions.&#160; In the event that significant global inflationary pressures appear, these pressures would increase our operating, voyage, administrative and financing costs.</div>

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Results of Operations</div>

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

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Six-month period ended June 30, 2016 compared to the six-month period ended June 30, 2015</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Voyage Revenues</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</font>&#160; For the six-month period ended June 30, 2016, total voyage revenues were $98.9 million, compared to $101.2 million for the corresponding period in 2015.&#160; This decrease is primarily driven by the lower charterhire rates prevailing in the dry bulk market during the six-month period ended June 30, 2016, compared to the corresponding period in 2015, and was partially offset by the increase in the average number of vessels from 67.5 during the six-month period ended June 30, 2015 to 71.9 during the corresponding period in 2016. Our TCE during the six-month periods ended June 30, 2016 and 2015 was $5,715 and $7,806, respectively.</div>

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Voyage Expenses</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</font>&#160; For the six-month period ended June 30, 2016, voyage expenses were $37.3 million, compared to $30.6 million during the corresponding period in 2015.&#160; The increase in voyage expenses was due to the increase in the average number of vessels as discussed above, as well as the increased level of spot market activity, which is associated with higher voyage expenses than time charters.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Charter-in hire expense</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</font>&#160; For the six-month period ended June 30,&#160; 2016, charter-in hire expense was $1.9 million, representing the expense for the lease back of the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Astakos</font> (ex-<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Maiden Voyage</font>), which we sold in September 2015.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessel Operating Expenses</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</font>&#160; For the six-month periods ended June 30, 2016 and 2015, vessel operating expenses were $49.4 million and $57.0 million, respectively.&#160; The decrease in operating expenses despite the higher average number of vessels in the six-month period ended June 30, 2016 compared to the corresponding period in 2015 is attributable to our management&#8217;s focus on cost efficiencies, the addition to our fleet of newly built vessels with lower maintenance requirements and further realization of synergies and economies of scale from operating a large fleet.&#160; Accordingly, our average daily operating expenses per vessel for the six-month period ended June 30, 2016 were $3,828, compared to $4,665 during the corresponding period in 2015, representing a 17.9% decrease.&#160; In addition, vessel operating expenses for the six-month periods ended June 30, 2016 and 2015 include $1.7 million and $3.6 million, respectively, of one time pre-delivery and pre-joining expenses incurred in connection with the delivery of the new vessels in our fleet during each period.&#160; Pre-joining and pre-delivery expenses are expenses for the initial crew manning, as well as the initial supply of stores for the vessel upon delivery.&#160; Excluding these amounts, our average daily operating expenses per vessel for the six-month period ended June 30, 2016 were $3,692, versus $4,372 during the corresponding period in 2015.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Dry docking expenses</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</font>&#160; Dry docking expenses for the six-month periods ended June 30, 2016 and 2015 were $1.6 million and $6.9 million, respectively.&#160; During the six-month period ended June 30, 2016, three vessels completed their respective periodic dry docking surveys, two of which started in December 2015.&#160; During the six-month period ended June 30, 2015, 14 of our vessels underwent their periodic dry docking surveys.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Depreciation</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</font>&#160; Depreciation expense increased to $40.8 million for the six-month period ended June 30, 2016, compared to $38.5 million for the corresponding period in 2015.&#160; The increase was mainly driven by the higher average number of vessels in 2016 compared to 2015.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Management fees:</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>Management fees for the six-month periods ended June 30, 2016 and 2015 were $3.9 million and $4.1 million, respectively. During the six-month periods ended June 30, 2016 and 2015, management fees included a daily fee of $295 per vessel to Ship Procurement Services S.A. In addition, management fees for the six-month period ended June 30, 2015 included a monthly fee of $17,500 to Maryville Maritime Inc. for the management of three of the Excel Vessels, (<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Martha, Star Pauline </font>and<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"> Star Despoina</font>), until the expiration of their then existing time charter agreements (of which the last expired in November 2015).</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">General and Administrative Expenses</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</font>&#160; General and administrative expenses during the six-month period ended June 30, 2016 increased to $13.3 million, compared to $11.2 million during the corresponding period in 2015.&#160; During the six-month period ended June 30, 2016, we incurred costs of $0.3 million relating to professional advisory services.&#160; These services were completed within the six-month period ended June 30, 2016 and such costs are not part of our ordinary course of business and will not burden our general and administrative expenses in the following quarters.&#160; Stock-based compensation expenses for the six-month periods ended June 30, 2016 and 2015 were $2.3 million and $1.4 million, respectively.&#160; Excluding the above mentioned non-recurring costs and stock-based compensation expenses, general and administrative expenses increased during the six-month period ended June 30, 2016, because of the increase in our average number of employees during the six-month period ended June 30, 2016, as compared to the corresponding period in 2015.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Loss / (gain) on derivative instruments: </font>During the six-month period ended June 30, 2016, we entered into FFAs and recorded a cash gain of $0.3 million. During the corresponding period in 2015 we had not entered into any FFAs.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Impairment Loss</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</font>&#160; During the six-month period ended June 30, 2016, we recorded an impairment loss of an aggregate of $6.7 million in connection with the sale of one operating vessel, which was delivered to its new owners in May 2016 and the termination of two newbuilding contracts agreed to in February 2016. During the six-month period ended June 30, 2015, we recorded an impairment loss of $28.8 million, relating to: (i) the sale of vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Monika</font>; (ii) the agreement to sell one of our newbuilding vessels upon its delivery to us in 2016; (iii) the agreement to sell the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Maiden Voyage</font>; and (iv) the cancellation of one of our newbuilding vessels. The impairment loss recognized in 2015 includes $18.2 million, which is attributed to the write-off of the fair value adjustment recognized for these vessels in July 2014 in connection with the Oceanbulk Merger.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Loss on time charter agreement termination</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</font>&#160; During the six-month period ended June 30, 2015, we recognized a $2.1 million write-off of the unamortized fair value of the above market acquired time charter of the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Big</font>, due to its redelivery prior to the end of its time charter in connection with its sale and delivery to its new owners in June 2015.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Loss/(gain) on sale of vessel</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</font>&#160; During the six-month period ended June 30, 2016, we recognized an aggregate loss of $0.02 million due to the sale and delivery to their new owners of the vessels <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Behemoth, Bruno Marks, Megalodon, Tsu Ebisu, Star Aries, Magnum Opus, Deep Blue, Jenmark, Indomitable, Obelix, Star Taurus </font>and<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"> Star Michele</font>. Total proceeds from these sales were $362.9 million. During the six-month period ended June 30, 2015, we recognized an aggregate loss on a sale of vessel of $13.4 million in connection with the sale of the vessels <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Kim, Star Julia, Star Tatianna, Rodon, Star Big, Star Mega </font>and<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"> Star Christianna</font>. Total sale proceeds from these sales were $36.1 million, of which $1.1 million was received in 2014 as an advance for the sale of the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Kim</font>.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Interest and Finance Costs</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</font>&#160; Interest and finance costs for the six-month periods ended June 30, 2016 and 2015 were $19.7 million and $13.9 million, respectively.&#160; The increase is attributable to:&#160; (i) the higher average balance of our outstanding indebtedness of $1,017.2 million for the six-month period ended June 30, 2016, including $50.0 million under the 8.00% Senior Notes and our capital lease obligations, compared to $910.0 million for the corresponding period in 2015, as well as (ii) the increase in weighted average interest rate to 3.9% in the six-month period ended June 30, 2016 compared to 3.3% in the corresponding period in 2015, driven by an increase in LIBOR over the same period. These interest and finance costs for the six-month period ended June 30, 2016 and 2015 were&#160;off-set by&#160;interest capitalized from general debt of $2.6 million and $6.2 million, respectively. We recognized these amounts in connection with the payments made for our newbuilding vessels.&#160; In addition, interest and finance costs for the six-month period ended June 30, 2016, included $0.7 million representing realized loss on hedging interest rate swaps, whereas for the corresponding period in 2015, such amount was $1.5 million.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Loss on debt extinguishment</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</font>&#160; During the six-month period ended June 30, 2016, we recorded $1.8 million of loss on debt extinguishment in connection with the non-cash write-off of unamortized deferred finance charges resulting from the mandatory prepayment in full of outstanding loan balances following the sale of certain vessels in 2016, as mentioned above, as well as from the cancellation of certain committed loan amounts resulting from (a) the sale of certain newbuilding vessels upon their delivery from the shipyards and (b) the termination of two newbuilding contracts agreed in February 2016.&#160; During the six-month period ended June 30, 2015, we recorded $1.0 million of loss on debt extinguishment in connection with the non-cash write off of unamortized deferred finance charges due to mandatory prepayments in full of certain of our loan facilities.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Loss on derivative financial instruments</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</font>&#160; During the six-month period ended June 30, 2016 and 2015, we recorded a loss on derivative financial instruments of $4.7 million and $0.7 million, respectively.&#160; As of January 1, 2015, all of our interest rate swaps had been designated as cash flow hedges.&#160; Our hedge effectiveness test for the second quarter of 2015 indicated that the hedging relationship of certain of our interest rate swaps no longer qualified for special hedge accounting.&#160; We therefore de-designated these swaps as accounting cash flow hedges as of April 1, 2015.&#160; Accordingly, realized and unrealized gains/(losses) from these swaps from April 1, 2015 onwards have been recorded in our statement of operations under Gain/(Loss) on derivative financial instruments.&#160; During the period that these swaps qualified for hedge accounting, their realized and unrealized gains/(losses) were recorded under interest and finance cost and equity, to the extent effective, respectively.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Cash Flows</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net cash used in operating activities</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Net cash used in operating activities for the six-month periods ended June 30, 2016 and 2015 was $36.0 million and $9.5 million, respectively.&#160; The increase is due to higher net loss and a working capital outflow of $9.6 million mainly attributable to payments made&#160;to our suppliers, for the six-month period ended June 30, 2016 compared to a working capital inflow of $2.3 million for the corresponding period in 2015.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net cash used in investing activities</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Net cash used in investing activities for the six-month periods ended June 30, 2016 and 2015 was $24.6 million and $278.5 million, respectively.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">For the six-month periods ended June 30, 2016, net cash used in investing activities consisted of:</div>

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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">$388.7 million paid for advances and other capitalized expenses for our newbuilding and newly delivered vessels;</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">offset partially by:</div>

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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">$142.6 million of proceeds from the sale of certain operating vessels (<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Tsu Ebisu, Magnum Opus</font>,<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"> Deep Blue, Indomitable, Obelix </font>and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Michele)</font>;</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">$220.3 million of proceeds from the sale of certain newbuilding vessels, which were sold upon their delivery from the shipyard;</td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$1.1 million of hull and m</font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">achinery insurance proceeds; and</font></td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">a net decrease of $0.09 million in restricted cash required under our loan facilities.</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">For the six-month period ended June 30, 2015, net cash used in investing activities consisted of:</div>

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<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">$190.9 million paid for advances and other capitalized expenses for our newbuilding vessels;</td>
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<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$87.2 million paid for the four newbuilding vessels delivered (</font><font style="BACKGROUND-COLOR: #ffffff; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Roberta</font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">, </font><font style="BACKGROUND-COLOR: #ffffff; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Idee Fixe, Kaley </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">and </font><font style="BACKGROUND-COLOR: #ffffff; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Laura</font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">), which are subject to bareboat charters </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">that we are accounting for as capital leases;</font></td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z78bf6092e3a3466490556961921ee16c" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$39.5 million paid for the acquisition of the last </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">six Excel Vessels;</font></td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

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

<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
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<div>
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">offset </font>partially<font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"> by:</font></div>

<br>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z66b0c74339b743cca15a43a78e31c57c" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$38.8 million of proceeds from the sale of the vessels </font><font style="BACKGROUND-COLOR: #ffffff; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Kim, Star Julia, Star Tatianna, Rodon, Star Big, Star Monika, Star Mega and Star Christianna</font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">; </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">and</font></td>
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</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z60f6fad87ed749888a396e458f504d3e" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">a net decrease of $0.2 million in restricted cash </font>required under our loan facilities<font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">.</font></td>
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<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net cash used in financing activities</div>

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Net cash used in financing activities for the six-month period ended June 30, 2016 was $7.0 million, whereas net cash provided by financing activities during the six-month period ended June 30, 2015 was $487.2 million, respectively.</div>

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">For the six-month period ended June 30, 2016, net cash used in financing activities consisted of:</div>

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

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="za86c0c73c7374be68f2c2f2c9aa8d4ba" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">proceeds from bank loans for an aggregate of $65.4 million for the financing of delivery installments for four of our newbuilding vessels delivered during the six-month period ended June 30, 2016; and</td>
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</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z8e0cd246c12a4a9abdb42cdcc7b2927a" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">an increase in capital lease obligations of $86.4 million, relating to two newbuilding vessels delivered to us in March 2016 and June 2016, respectively, under bareboat charters;</td>
</tr>
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</div>

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

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

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

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z275d23f703d2461b9f904e153f0e56e8" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">an aggregate of $158.7 million paid in connection with the regular amortization of outstanding vessel financings, capital lease installments and the mandatory prepayment of several loan facilities due to the sale of corresponding mortgaged vessels, as mentioned above.</td>
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</div>

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">For the six-month period ended June 30, 2015, net cash provided by financing activities consisted of:</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z2cf8f95a5d9243f787c99f34cd6edec0" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">proceeds from </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">loan facilities for an aggregate of $183.5 million for the financing of: </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(i) delivery installments for four of our newbuilding vessels </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">that were delivered during the period</font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">; (ii) cash consideration for the acquisition of the last </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">six Excel Vessels</font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">; and </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(iii) the repayment in full of the Excel Vessel Bridge Facility;</font></td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zed3da61375a9416eb968f2ebde40f1c8" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">capital lease obligations of $82.7 million, relating to four newbuildings delivered during the period under bareboat charters;</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zab7e257670d448df97491dfb965073b7" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$418.8 million of proceeds from two public offerings of our common shares, </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">which were completed in January 2015 and May 2015, net of underwriting discounts and commissions </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">of $6.2 million and less offering expenses of $1.0 million;</font></td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 54pt; FONT-SIZE: 10pt">&#160;</div>

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

<div style="TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 54pt; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z3bbaba4efd144ca59564a326157ebec8" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">financing fees paid of $8.5 million; and</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zdf074c63b659436a9184aed6369d4268" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; align: right">&#183;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">an aggregate of $188.2 million paid in connection with </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">the regular amortization of outstanding vessel financings, capital lease installments and prepayments in full&#160; of certain of our loan facilities.</font></td>
</tr>
</table>
</div>

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

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

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

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">There have been no material changes to our significant accounting policies since December 31, 2015 other than those reflected in our unaudited interim condensed consolidated financial statements as of and for the six-month period ended June 30, 2016 included elsewhere herein.&#160; For a description of our critical accounting policies and all of our significant accounting policies, see Note 2 to our audited financial statements and &#8220;Item 5 &#8212; Operating and Financial Review and Prospects,&#8221; included in our Annual Report on Form 20&#8209;F for the year ended December 31, 2015, which was filed with the Commission on March 22, 2016 and Note 2 to the unaudited interim condensed consolidated financial statements for the six-month period ended June 30, 2016, included elsewhere in this report.</div>

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

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

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

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

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">INDEX TO UNAUDITED INTERIM CONDENSED CONSOLIDATED</div>

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

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

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zad640e0696b949b7b2d53a6dcbf7e86f" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 90.42%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -10.8pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 10.8pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 10.8pt"><a href="#ConsolidatedBalanceSheets">Consolidated Balance Sheets as of December 31, 2015 and June 30, 2016 (unaudited)</a></div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 9.58%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; MARGIN-RIGHT: 7.2pt">F-2</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 90.42%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 9.58%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 90.42%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -10.8pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 10.8pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 10.8pt"><a href="#CondensedConsolidatedStat">Unaudited Interim Condensed Consolidated Statements of Operations for the six-month periods ended June 30, 2015 and 2016</a></div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 9.58%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; MARGIN-RIGHT: 7.2pt">F-3</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 90.42%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 9.58%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 90.42%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -10.8pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 10.8pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 10.8pt"><a href="#ComprehensiveIncome">Unaudited Interim Condensed Consolidated Statements of Comprehensive Income/(Loss) for the six-month periods ended June 30, 2015 and 2016</a></div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 9.58%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; MARGIN-RIGHT: 7.2pt">F-4</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 90.42%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 9.58%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 90.42%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -10.8pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 10.8pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 10.8pt"><a href="#StockholdersEquity">Unaudited Interim Condensed Consolidated Statement of Stockholders&#8217; Equity for the six-month periods ended June 30, 2015 and 2016</a></div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 9.58%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; MARGIN-RIGHT: 7.2pt">F-5</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 90.42%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 9.58%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 90.42%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -10.8pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 10.8pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 10.8pt"><a href="#CashFlows">Unaudited Interim Condensed Consolidated Statements of Cash Flows for the six-month periods ended June 30, 2015 and 2016</a></div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 9.58%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; MARGIN-RIGHT: 7.2pt">F-6</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 90.42%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 9.58%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 90.42%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -10.8pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 10.8pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 10.8pt"><a href="#Notes">Notes to Unaudited Interim Condensed Consolidated Financial Statements</a></div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 9.58%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; MARGIN-RIGHT: 7.2pt">F-7</div>
</td>
</tr>
</table>

<div>&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">STAR BULK CARRIERS CORP.</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><a name="ConsolidatedBalanceSheets"><!--Anchor--></a>Consolidated Balance Sheets</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">As of December 31, 2015 and June 30, 2016 (unaudited)</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(Expressed in thousands of U.S. dollars except for share and per share data)</font></div>

<div><br>
</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="ze94c3bcdf8e2421fb53a595941f4d309" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">December 31, 2015</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ASSETS</div>
</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CURRENT ASSETS</div>
</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Cash and cash equivalents</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">208,056</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">140,555</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Restricted cash, current (Note 8)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">3,769</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">5,122</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Trade accounts receivable</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">10,889</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">10,634</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Inventories (Note 4)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">14,247</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">16,882</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Due from managers</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="MARGIN-LEFT: 9pt">&#160;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="MARGIN-LEFT: 9pt">&#160;</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="MARGIN-LEFT: 9pt">&#160;</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="MARGIN-LEFT: 9pt">&#160;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="MARGIN-LEFT: 9pt">&#160;</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">3,585</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="MARGIN-LEFT: 9pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Due from related parties (Note 3)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,209</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">672</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Prepaid expenses and other receivables</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">8,604</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7,106</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Other current assets</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">5,284</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">8,983</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle; FONT-WEIGHT: bold" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Total Current Assets</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">252,058</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">193,539</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FIXED ASSETS</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Advances for vessels under construction and acquisition of vessels (Note 6)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">127,910</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">55,892</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Vessels and other fixed assets, net (Note 5)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,757,552</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,802,507</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle; FONT-WEIGHT: bold" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Total Fixed Assets</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,885,462</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,858,399</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">OTHER NON-CURRENT ASSETS</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Long term investment (Note 3)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">844</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">913</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Restricted cash, non-current (Note 8 )</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">10,228</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">8,785</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Fair value of above market acquired time charter (Note 7)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">254</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Other non-current assets (</font>Note 6<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</font></div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,604</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TOTAL ASSETS</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2,148,846</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2,063,240</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">LIABILITIES &amp; STOCKHOLDERS&#8217; EQUITY</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt; FONT-WEIGHT: bold">CURRENT LIABILITIES</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Current portion of long term debt (Note 8)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">127,141</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Lease commitments short term (Notes 5 and 8)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">4,490</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">9,137</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Accounts payable</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">9,436</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">9,409</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Due to related parties (Note 3)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">422</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">415</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Due to managers</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2,291</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Accrued liabilities</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">14,773</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">11,185</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Derivative liability, current (Note 14)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">5,931</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">5,638</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Deferred revenue</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2,465</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2,637</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt; FONT-WEIGHT: bold">Total Current Liabilities</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">166,949</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">38,421</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NON-CURRENT LIABILITIES</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">8.00% 2019 Notes, net of unamortized deferred finance fees of $1,677 and $1,461, respectively (Note 8)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">48,323</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">48,539</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-INDENT: -9pt; MARGIN-LEFT: 18pt">Long term debt, net of current portion and unamortized deferred finance fees of $14,360 and $9,992, respectively (Note 8)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">720,237</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">761,597</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Lease commitments long term (Notes 5 and 8)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">75,030</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">153,596</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Derivative liability, non current (Note 14)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2,518</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">4,879</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Other non-current liabilities</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">431</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">524</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt; FONT-WEIGHT: bold">TOTAL LIABILITIES</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,013,488</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,007,556</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

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

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">STOCKHOLDERS&#8217; EQUITY</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-INDENT: -9pt; MARGIN-LEFT: 18pt">Preferred Stock; $0.01 par value, authorized 25,000,000 shares; none issued or outstanding at December 31, 2015 and June 30, 2016 (Note 9)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-INDENT: -9pt; MARGIN-LEFT: 18pt">Common Stock, $0.01 par value, 300,000,000 shares authorized; 43,821,114 and 43,955,659 shares issued and outstanding at December 31, 2015 and June 30, 2016, respectively (Note 9)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">438</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">440</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Additional paid in capital</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2,008,440</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2,010,723</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Accumulated other comprehensive loss (Note 14)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,216</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,479</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Accumulated deficit</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(872,304</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(954,000</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt; FONT-WEIGHT: bold">Total Stockholders&#8217; Equity</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,135,358</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,055,684</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TOTAL LIABILITIES AND STOCKHOLDERS&#8217; EQUITY</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2,148,846</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2,063,240</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

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

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

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">F-2</font></div>

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">STAR BULK CARRIERS CORP.</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Unaudited Interim <a name="CondensedConsolidatedStat"><!--Anchor--></a>Condensed Consolidated Statements of Operations</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">For the six-month periods ended June 30, 2015 and 2016</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(Expressed in thousands of U.S. dollars except for share and per share data)</font></div>

<div><br>
</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z28afbcb2cf4543e882b3c725d8ae9829" border="0" cellspacing="0" cellpadding="0" align="left">
<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="6" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Six months ended June 30,</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2015</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2016</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Revenues:</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Voyage revenues</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">101,182</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">98,862</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Management fee income</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">136</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">91</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">101,318</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">98,953</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Expenses</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Voyage expenses</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">30,637</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">37,284</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Charter-in hire expense</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,918</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Vessel operating expenses</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">56,964</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">49,364</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Dry docking expenses</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">6,945</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,583</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Depreciation</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">38,519</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">40,847</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Management fees (Note 3 and Note 10)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">4,063</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">3,911</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">General and administrative expenses</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">11,153</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">13,298</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Impairment loss (Note 5 and Note 6)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">28,829</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">6,694</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Loss on time charter agreement termination (Note 7)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2,114</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Loss / (gain) on derivative instruments</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(283</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Other operational loss</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">109</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Other operational gain</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(590</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(50</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Loss / (gain) on sale of vessels ( Note 5)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">13,389</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">21</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">192,023</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">154,696</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Operating income / (loss)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(90,705</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(55,743</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Other Income/ (Expenses):</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Interest and finance costs (Note 8)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(13,871</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(19,694</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Interest and other income/(loss)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">828</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">154</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Gain / (Loss) on derivative financial instrument, net (Note 14)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(688</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(4,681</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Loss on debt extinguishment (Note 8)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(974</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,801</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total other expenses, net</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(14,705</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(26,022</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income/(Loss) before equity in income of investee</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(105,410</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(81,765</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Equity in income of investee</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">213</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">69</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net income / (loss)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(105,197</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(81,696</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Earnings / (Loss) per share, basic and diluted&#160; (Note 11)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(3.06</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1.86</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Weighted average number of shares outstanding, basic and diluted&#160; (Note 11)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">34,347,332</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">43,880,713</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="CLEAR: both"><br>
</div>

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

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

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">F-3</font></div>

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">STAR BULK CARRIERS CORP.</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Unaudited Interim Condensed Consolidated Statements of <a name="ComprehensiveIncome"><!--Anchor--></a>Comprehensive Income</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">For the six-month periods ended June 30, 2015 and 2016</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font> (Expressed in thousands of U.S. dollars except for share and per share data)</div>

<div><br>
</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z95113f1056154a1ca8891fbfce7e54f3" border="0" cellspacing="0" cellpadding="0" align="left">
<tr>
<td style="PADDING-BOTTOM: 2px; TEXT-INDENT: -9pt; WIDTH: 76%; MARGIN-LEFT: 9pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="6" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Six months ended June 30,</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="TEXT-INDENT: -9pt; WIDTH: 76%; MARGIN-LEFT: 9pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; TEXT-INDENT: -9pt; WIDTH: 76%; MARGIN-LEFT: 9pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2015</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2016</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net income / (loss)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(105,197</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(81,696</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>

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

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Unrealized losses from cash flow hedges:</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Unrealized loss from hedging interest rate swaps recognized in Other comprehensive income/(loss) before reclassifications</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(4,827</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(972</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

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

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Reclassification adjustments of interest rate swap loss</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,718</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">709</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Other comprehensive loss</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(3,109</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(263</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Comprehensive income / (loss)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(108,306</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(81,959</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>
</table>

<div style="CLEAR: both"><br>
</div>

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

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

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">F-4</font></div>

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">STAR BULK CARRIERS CORP.</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Unaudited Interim Condensed Consolidated Statements of <a name="StockholdersEquity"><!--Anchor--></a>Stockholders&#8217; Equity</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">For the six-month periods ended June 30, 2015 and 2016</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(Expressed in thousands of U.S. dollars except for share and per share data)</font></div>

<div>&#160;</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z2a5237babc8046d28667db2e64543921" cellspacing="0" cellpadding="0">
<tr>
<td style="TEXT-INDENT: -9pt; MARGIN-LEFT: 9pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="6" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Common Stock</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; TEXT-INDENT: -9pt; MARGIN-LEFT: 9pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom" colspan="2" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold"># of Shares</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom" colspan="2" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Par Value</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom" colspan="2" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Additional Paid-</div>

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

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

<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Accumulated </div>

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

<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Stockholders&#8217; </div>

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

<tr>
<td style="TEXT-INDENT: -9pt; MARGIN-LEFT: 9pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 28%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">BALANCE, January 1, 2015</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">21,885,247</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">219</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1,568,588</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(378</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(414,127</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1,154,302</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 28%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Net income / (loss)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(105,197</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(105,197</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 28%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Other comprehensive income / (loss)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(3,109</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(3,109</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 28%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Amortization of stock-based compensation (Note 12)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,407</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,407</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 28%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Issuance of common stock (Note 9)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">21,050,084</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">210</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">417,587</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">417,797</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 28%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Shares for commission to Oceanbulk Maritime</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">519</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">519</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 28%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Issuance of common stock Excel Transactions</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">851,577</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">9</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">19,299</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">19,308</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 28%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">BALANCE, June 30, 2015</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">43,786,908</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">438</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2,007,400</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(3,487</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(519,324</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1,485,027</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: -9pt; WIDTH: 28%; MARGIN-LEFT: 9pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; TEXT-INDENT: -9pt; WIDTH: 28%; MARGIN-LEFT: 9pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 28%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">BALANCE, January 1, 2016</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">43,821,114</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">438</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2,008,440</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(1,216</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(872,304</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1,135,358</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 28%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Net income / (loss)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(81,696</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(81,696</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 28%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Other comprehensive income / (loss)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(263</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(263</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 28%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Amortization of stock-based compensation (Note 12)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">134,545</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2,283</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2,285</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 28%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">BALANCE, June 30, 2016</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">43,955,659</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">440</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2,010,723</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(1,479</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(954,000</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1,055,684</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

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

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

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">F-5</font></div>

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">STAR BULK CARRIERS CORP.</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Unaudited Interim Condensed Consolidated Statements of <a name="CashFlows"><!--Anchor--></a>Cash Flows</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">For the six-month periods ended June 30, 2015 and 2016</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><br>
</font><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</font></div>

<div><br>
</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z080d13d7bdc74872b4443ef90c49a91c" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="6" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Six months ended June 30,</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2015</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2016</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Cash Flows from Operating Activities:</div>
</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Net income / (loss)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(105,197</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(81,696</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Adjustments to reconcile net loss to net cash provided by/(used in) operating activities:</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Depreciation</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">38,519</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">40,847</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Amortization of&#160; fair value of above market acquired time charters (Note 7)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7,071</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">254</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Amortization of deferred finance charges (Note 8)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,199</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,561</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Loss on debt extinguishment (Note 8)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">974</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,801</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

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

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="MARGIN-LEFT: 9pt">Vessel impairment loss (Note 5 and Note 6)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">28,829</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">6,694</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Loss / (gain) on sale of vessels (Note 5)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">13,389</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">21</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Stock-based compensation (Note 12)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,407</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2,285</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Unrealized and accrued gain/(loss) on derivatives (Note 14)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">59</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,805</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Other non-cash charges</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">34</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">130</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Amortization of deferred gain (Note 5)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(37</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Equity of income of investee</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(213</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(69</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Changes in operating assets and liabilities:</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">(Increase)/Decrease in:</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Trade accounts receivable</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">6,449</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">255</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Inventories</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(2,323</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(2,267</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Prepaid expenses and other current assets</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,069</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">350</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Due from related parties</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(426</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">537</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Due from managers</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(3,585</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Increase/(Decrease) in:</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Accounts payable</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(3,814</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(27</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Due to related parties</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,266</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(7</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Accrued liabilities</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">863</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(2,705</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Due to managers</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">4,539</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(2,291</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Deferred revenue</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(637</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">172</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net cash provided by / (used in) Operating Activities</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(9,499</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(35,972</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Cash Flows from Investing Activities:</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Advances for vessels under construction and acquisition of vessels and other assets</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(317,538</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(388,660</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Cash proceeds from vessel sales (Note 5)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">38,831</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">362,887</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Decrease in restricted cash</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">3,487</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7,034</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Increase in restricted cash</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(3,304</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(6,944</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Hull and Machinery Insurance proceeds</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,115</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net cash provided by / (used in) Investing Activities</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(278,524</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(24,568</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Cash Flows from Financing Activities:</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Proceeds from bank loans and capital leases</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">266,181</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">151,763</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Loan prepayments and repayments</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(188,226</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(158,699</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Financing fees paid</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(8,526</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(25</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Proceeds from issuance of common stock</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">418,771</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Offering expenses paid related to the issuance of common stock</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(974</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net cash provided by / (used in) Financing Activities</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">487,226</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(6,961</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net&#160; (decrease) / increase in cash and cash equivalents</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">199,203</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(67,501</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Cash and cash equivalents at beginning of period</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">86,000</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">208,056</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Cash and cash equivalents at end of the period</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">285,203</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">140,555</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Cash paid during the period for:</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Interest</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">19,844</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">23,279</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

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

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

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">F-6</font></div>

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

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

<div><br>
</div>

<div style="TEXT-ALIGN: justify"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Basis of Presentation and General Information:</font></div>

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

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

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

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

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">These unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all normal recurring adjustments considered necessary for a fair presentation of the Company&#8217;s financial position, results of operations and cash flows for the periods presented. Operating results for the six-month period ended June 30, 2016 are not necessarily indicative of the results that might be expected for the fiscal year ending December 31, 2016.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The unaudited interim condensed consolidated financial statements presented in this report should be read in conjunction with the Company&#8217;s Annual Report on Form 20-F for the year ended December 31, 2015 (the &#8220;2015 20-F Annual Report&#8221;). The balance sheet as of December 31, 2015 has been derived from the audited consolidated financial statements as of that date, but, pursuant to the requirements for interim financial information, does not include all of the information and footnotes required by U.S. GAAP for complete financial statements.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Effective June 20, 2016, the Company effected a 5-for-1 reverse stock split on its issued and outstanding common stock (Note 9). All share and per share amounts disclosed in the accompanying financial statements give effect to this reverse stock split retroactively, for all periods presented.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Unless otherwise defined herein, capitalized words and expressions used herein shall have the same meanings ascribed to them in the Company&#8217;s 2015 20-F Annual Report.</div>

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

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<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">F-7</font></div>

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

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

<div style="TEXT-ALIGN: justify; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Basis of Presentation and General Information - continued:</font></div>

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

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

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Below is the list of Star Bulk&#8217;s subsidiaries, all of which are wholly owned, as of June 30, 2016:</div>

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

<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessels in operation at June 30, 2016:</div>

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

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z5e936b5e39ac4e059a4b719f6815d4f7" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 3%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Wholly Owned Subsidiaries</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessel Name</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">DWT</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Date </div>

<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Delivered to Star Bulk</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year </div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Built</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Ennea LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Poseidon</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">209,475</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">February 26, 2016</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2016</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Sea Diamond LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Goliath</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">209,537</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July 15, 2015</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">3</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Pearl Shiptrade LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Gargantua</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">209,529</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">April 2, 2015</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">4</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Coral Cape Shipping LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Maharaj</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">209,472</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July 15, 2015</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">5</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Seeker LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Libra</font> (1) </div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">207,765</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">June 6, 2016</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2016</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">6</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Clearwater Shipping LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Marisa&#160; (1)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">207,709</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">March 11, 2016</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2016</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Cape Ocean Maritime LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Leviathan</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">182,511</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September 19, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2014</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">8</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Cape Horizon Shipping LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Peloreus</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">182,496</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July 22, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2014</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">9</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Sandra Shipco LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Pauline</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">180,274</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December 29, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2008</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">10</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Christine Shipco LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Martha</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">180,274</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">October 31, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2010</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">11</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Pacific Cape Shipping LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Pantagruel</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">180,181</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July 11, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2004</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">12</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Borealis LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Borealis</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">179,678</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September 9, 2011</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2011</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">13</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Polaris LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Polaris</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">179,600</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">November 14, 2011</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2011</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">14</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident V LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Angie</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">177,931</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">October 29, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2007</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">15</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Sky Cape Shipping LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Big Fish</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">177,662</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July 11, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2004</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">16</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Global Cape Shipping LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kymopolia</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">176,990</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July 11, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">17</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Sea Cape Shipping LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Big Bang</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">174,109</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July 11, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2007</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">18</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Aurora LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Aurora</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">171,199</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September 8, 2010</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2000</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">19</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Lowlands Beilun Shipco LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Despoina</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">170,162</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December 29, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1999</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">20</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident VII LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Eleonora</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">164,218</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December 3, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2001</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">21</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident VI LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Monisha <font style="FONT-STYLE: normal">(Note 15(c))</font></div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">164,218</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">February 2, 2015</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2001</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">22</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Nautical Shipping LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Amami</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">98,681</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July 11, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2011</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">23</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Majestic Shipping LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Madredeus</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">98,681</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July 11, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2011</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">24</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Sirius LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Sirius</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">98,681</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">March 7, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2011</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">25</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Vega LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Vega</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">98,681</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">February 13, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2011</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">26</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Alta I LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Angelina</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,981</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December 5, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">27</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Alta II LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Gwyneth</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,790</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December 5, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">28</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident I LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Kamila</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,769</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September 3, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2005</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">29</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Grain Shipping LLC</div>
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Pendulum</div>
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,619</div>
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July 11, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">30</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident XIX LLC</div>
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<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Maria</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,598</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">November 5, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2007</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">31</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident XII LLC</div>
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Markella</div>
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,594</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September 29, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2007</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">32</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident IX LLC</div>
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<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Danai</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,574</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">October 21, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">33</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident XI LLC</div>
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Georgia</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,298</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">October 14, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">34</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident VIII LLC</div>
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<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Sophia</div>
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<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,269</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">October 31, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2007</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">35</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident XVI LLC</div>
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<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Mariella</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,266</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September 19, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">36</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident XIV LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Moira</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,257</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">November 19, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">37</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident XVIII LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Nina</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,224</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">January 5, 2015</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">38</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident X LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Renee</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,221</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December 18, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">39</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident II LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Nasia</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,220</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">August 29, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">40</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident XIII LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Laura</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,209</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December 8, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">41</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident XV LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Jennifer</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,209</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">April 15, 2015</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">42</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident XVII LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Helena</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,187</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December 29, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">43</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Mineral Shipping LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Mercurial Virgo</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">81,545</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July 11, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2013</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">44</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident III LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Iris</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">76,466</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September 8, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2004</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">45</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident IV LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Aline <font style="FONT-STYLE: normal">(Note 15(c))</font></div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">76,429</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September 4, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2004</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">46</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident XX LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Emily</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">76,417</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September 16, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2004</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">47</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident XXV Ltd</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Vanessa</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">72,493</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">November 7, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1999</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">48</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Spring Shipping LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Idee Fixe (1)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">63,458</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">March 25, 2015</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">49</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Orion Maritime LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Roberta (1)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">63,426</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">March 31, 2015</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">50</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Success Maritime LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Laura (1)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">63,399</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">April 7, 2015</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">51</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultra Shipping LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kaley (1)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">63,283</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">June 26, 2015</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Blooming Navigation LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kennadi</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">63,262</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">January 8, 2016</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2016</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">53</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Jasmine Shipping LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Mackenzie</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">63,226</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">March 2, 2016</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2016</div>
</td>
</tr>
</table>

<div>&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">F-8</font></div>

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

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

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

<div style="TEXT-ALIGN: justify; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Basis of Presentation and General Information - continued:</font></div>

<div><br>
</div>

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="ze97dc66ebdf84a35a1fbb263bb57862f" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 3%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Wholly Owned Subsidiaries</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessel Name</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">DWT</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Date </div>

<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Delivered to Star Bulk</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year </div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Built</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">54</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Challenger I LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Challenger</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61,462</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December 12, 2013</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2012</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">55</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Challenger II LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Fighter</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61,455</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December 30, 2013</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2013</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">56</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Axe II LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Lutas</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61,347</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">January 6, 2016</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2016</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">57</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Aurelia Shipping LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Honey Badger</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61,320</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">February 27, 2015</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">58</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Rainbow Maritime LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Wolverine</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61,292</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">February 27, 2015</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">59</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Axe I LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Antares</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61,258</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">October 9, 2015</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">60</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Asia I LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Aquarius</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">60,916</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July 22, 2015</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Asia II LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Pisces</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">60,916</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">August 7, 2015</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">62</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Glory Supra Shipping LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Strange Attractor</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">55,742</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July 11, 2014</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">63</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Omicron LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Omicron</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">53,489</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">April 17, 2008</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2005</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">64</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Gamma LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Gamma</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">53,098</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">January 4, 2008</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2002</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">65</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Zeta LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Zeta</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52,994</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">January 2, 2008</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2003</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">66</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Delta LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Delta</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52,434</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">January 2, 2008</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2000</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">67</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Theta LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Theta</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52,425</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December 6, 2007</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2003</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">68</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Epsilon LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Epsilon</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52,402</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December 3, 2007</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2001</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">69</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Cosmo LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Cosmo</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52,247</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July 1, 2008</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2005</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">70</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 24.42%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Kappa LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 37.32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Kappa</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 10.6%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52,055</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 17.72%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December 14, 2007</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 5.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2001</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 3%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 24.42%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 37.32%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total dwt</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 10.6%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 2px solid">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">7,421,255</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 17.72%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 5.92%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>
</table>

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

<div>
<hr style="TEXT-ALIGN: left; BACKGROUND-COLOR: #000000; WIDTH: 15%; HEIGHT: 2px; COLOR: #000000; MARGIN-LEFT: 0px; MARGIN-RIGHT: auto" align="left" noshade="noshade">
</div>
</div>

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z6b78117a7d6c43eb869971d43acc4553" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Vessels subject to a capital bareboat lease (Note 5)</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Newbuildings at June 30, 2016:</div>

<div><br>
</div>

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zf3935499421e4e969fe4816a6d270b0d" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 4%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 27.46%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Wholly Owned Subsidiaries</div>
</td>
<td style="WIDTH: 33.44%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Newbuildings Name</div>
</td>
<td style="WIDTH: 13.22%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Type</div>
</td>
<td style="WIDTH: 9.15%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">DWT</div>
</td>
<td style="WIDTH: 13.38%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Expected Delivery</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Date</div>
</td>
</tr>

<tr>
<td style="WIDTH: 4%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 27.46%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Breezer LLC</div>
</td>
<td style="WIDTH: 33.44%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">HN 1371 (tbn <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Virgo</font>) (1)</div>
</td>
<td style="WIDTH: 13.22%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="WIDTH: 9.15%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">208,000</div>
</td>
<td style="WIDTH: 13.38%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Jan-17</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ccecff; WIDTH: 4%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2</div>
</td>
<td style="BACKGROUND-COLOR: #ccecff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ccecff; WIDTH: 27.46%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Domus Shipping LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ccecff; WIDTH: 33.44%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">HN 1360 (tbn <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Ariadne</font>) (1)</div>
</td>
<td style="BACKGROUND-COLOR: #ccecff; WIDTH: 13.22%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #ccecff; WIDTH: 9.15%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">208,000</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 13.38%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Feb-17</div>
</td>
</tr>

<tr>
<td style="WIDTH: 4%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 27.46%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Castle I LLC</div>
</td>
<td style="WIDTH: 33.44%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">HN 1342 (tbn <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Gemini</font>)</div>
</td>
<td style="WIDTH: 13.22%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="WIDTH: 9.15%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">208,000</div>
</td>
<td style="WIDTH: 13.38%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Jul-17</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ccecff; WIDTH: 4%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">4</div>
</td>
<td style="BACKGROUND-COLOR: #ccecff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ccecff; WIDTH: 27.46%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Festive Shipping LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ccecff; WIDTH: 33.44%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">HN 1361 (tbn <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Magnanimus</font>) (1)</div>
</td>
<td style="BACKGROUND-COLOR: #ccecff; WIDTH: 13.22%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #ccecff; WIDTH: 9.15%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">208,000</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 13.38%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Jan-18</div>
</td>
</tr>

<tr>
<td style="WIDTH: 4%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 27.46%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Castle II LLC</div>
</td>
<td style="WIDTH: 33.44%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">HN 1343 (tbn <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Leo</font>) </div>
</td>
<td style="WIDTH: 13.22%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="WIDTH: 9.15%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">208,000</div>
</td>
<td style="WIDTH: 13.38%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Jan-18</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 27.46%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 33.44%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total dwt</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 13.22%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 9.15%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 2px solid">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1,040,000</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 13.38%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>
</table>

<div><br>
<hr style="TEXT-ALIGN: left; BACKGROUND-COLOR: #000000; WIDTH: 15%; HEIGHT: 2px; COLOR: #000000; MARGIN-LEFT: 0px; MARGIN-RIGHT: auto" align="left" noshade="noshade">
</div>

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zfda77606058d47d2a93b278d918e5c46" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Vessels subject to a capital bareboat lease (Note 6)</td>
</tr>
</table>
</div>

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

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">F-9</font></div>

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

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

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

<div style="TEXT-ALIGN: justify; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Basis of Presentation and General Information - continued:</font></div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Non-vessel owning subsidiaries at June 30, 2016:</div>

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

<table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z93d7b9b6619c4ad98fd6885bc999c665" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 4.39%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Wholly Owned Subsidiaries</div>
</td>
<td style="WIDTH: 4.39%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 35%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Bulk Management Inc.</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">23</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 35%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Mega LLC</div>
</td>
</tr>

<tr>
<td style="WIDTH: 4.39%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Starbulk S.A.</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">24</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 35%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Big LLC</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">3</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Bulk Manning LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">25</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 35%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Gravity Shipping LLC</div>
</td>
</tr>

<tr>
<td style="WIDTH: 4.39%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">4</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Bulk Shipmanagement Company (Cyprus) Limited</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">26</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 35%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">White Sand Shipping LLC</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">5</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Optima Shipping Limited</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">27</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 35%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident XXVI LLC</div>
</td>
</tr>

<tr>
<td style="WIDTH: 4.39%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">6</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Omas LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">28</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 35%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Premier Voyage LLC</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Synergy LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">29</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 35%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident XXII LLC</div>
</td>
</tr>

<tr>
<td style="WIDTH: 4.39%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">8</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Oceanbulk Shipping LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">30</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 35%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Dioriga Shipping Co.</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">9</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Oceanbulk Carriers LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">31</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 35%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">KMSRX Holdings LLC</div>
</td>
</tr>

<tr>
<td style="WIDTH: 4.39%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">10</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">International Holdings LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">32</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 35%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">L.A. Cape Shipping LLC</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">11</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Unity Holding LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">33</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 35%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Cape Confidence Shipping LLC</div>
</td>
</tr>

<tr>
<td style="WIDTH: 4.39%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">12</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Bulk (USA) LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">34</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 35%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Cape Runner Shipping LLC</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">13</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident XXI LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">35</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 35%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Olympia Shiptrade LLC</div>
</td>
</tr>

<tr>
<td style="WIDTH: 4.39%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">14</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident XXIV LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">36</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 35%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Victory Shipping LLC</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">15</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident XXVII LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">37</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 35%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Cape I LLC</div>
</td>
</tr>

<tr>
<td style="WIDTH: 4.39%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">16</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident XXXI LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">38</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 35%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Oday Marine LLC</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">17</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident XXIX LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">39</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 35%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Searay Maritime LLC</div>
</td>
</tr>

<tr>
<td style="WIDTH: 4.39%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">18</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident XXVIII LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">40</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 35%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident XXIII LLC</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">19</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Lamda LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">41</div>
</td>
<td style="BACKGROUND-COLOR: #ccecff; WIDTH: 35%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Positive Shipping Company</div>
</td>
</tr>

<tr>
<td style="WIDTH: 4.39%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">20</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Alpha LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">42</div>
</td>
<td style="WIDTH: 35%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">OOCape1 Holdings LLC</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">21</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Beta LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">43</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 35%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Trident XXX LLC</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">22</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 36%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Ypsilon LLC</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 4.39%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">44</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 35%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Cape II LLC</div>
</td>
</tr>
</table>

<div style="TEXT-ALIGN: right"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The vessel listed below was under commercial and technical management by a Star Bulk&#8217;s wholly owned subsidiary, Starbulk S.A., during the six-month periods ended June 30, 2015 and 2016, in exchange for a fixed management fee of $0.75 per day and $0.5 per day, respectively.</div>

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

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="za45eae0e6c3a4631b9b51bb3c83befab" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 29%; VERTICAL-ALIGN: middle" rowspan="3">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessel Owning Company</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: middle" rowspan="3">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 32%; VERTICAL-ALIGN: middle" rowspan="3">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessel Name</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: middle" rowspan="3">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 18.54%; VERTICAL-ALIGN: middle" rowspan="3">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">DWT</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: middle" rowspan="3">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 16.92%; VERTICAL-ALIGN: middle" rowspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Built</div>
</td>
</tr>

<tr>
<td></td>
</tr>

<tr>
<td></td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 29%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Serenity Maritime Inc.</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Serenity I</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18.54%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">53,688</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 16.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
</tr>
</table>

<div>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The vessel listed below was chartered in as part of the sale and leaseback transaction entered into by the Company with respect to the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Maiden Voyage</font>, which is currently named <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Astakos</font> (Note 5).</div>

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

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z5da0d37be8ad45489750e54e705ca2fa" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 29%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessel Name</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BORDER-BOTTOM: black 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Type</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BORDER-BOTTOM: black 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 18.54%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">DWT</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BORDER-BOTTOM: black 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 16.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Built</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 29%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Astakos</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 32%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Supramax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 18.54%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">58,722</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 16.92%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2012</div>
</td>
</tr>
</table>

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

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">F-10</font></div>

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

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

<div><br>
</div>

<div style="TEXT-ALIGN: justify"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Significant accounting policies and recent accounting pronouncements:</font></div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">A summary of the Company&#8217;s significant accounting policies is included in Note 2 to the Company&#8217;s consolidated financial statements included in the 2015 20-F Annual Report. There have been no changes to the Company&#8217;s significant accounting policies in the six-month period ended June 30, 2016, except for the following:</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Consolidation (Topic 810) - Amendments to the Consolidation Analysis:</font> In February 2015, the FASB issued ASU 2015-02, &#8220;Consolidation (Topic 810) - Amendments to the Consolidation Analysis&#8221;, 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 15, 2015. The Company believes that the implementation of this update has no material impact on its consolidated financial statements.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Financing Costs:</font> The Company has adopted Accounting Standards Update No. 2015-03, &#8220;Simplifying the Presentation of Debt Issuance Costs,&#8221; which 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, rather than as deferred finance charges with total assets, effective January 1, 2016. The guidance provides also that the new classification should be applied retrospectively to prior periods presented in the financial statements. As such, the outstanding balance of deferred finance charges as of December 31, 2015 of $16,037 (previously presented as &#8220;Deferred finance charges, net&#8221;) and June 30, 2016 of $11,453, are reflected against long term debt and 8.00% 2019 Notes in the accompanying balance sheets as further analyzed in Note 8. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Recent Accounting pronouncements:</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">In March 2016, the FASB issued ASU 2016-05, &#8220;Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships,&#8221; which clarifies that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under Topic 815 does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria (including those in paragraphs 815-20-35-14 through 35-18) continue to be satisfied. For public companies, the amendments in this Update are effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. For all other entities, the amendments in this Update are effective for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods within fiscal years beginning after December 15, 2018. An entity may apply the amendments in this Update on a prospective basis or on a modified retrospective basis, as defined in the Update. The adoption of this ASU is not expected to have a material effect on the Company&#8217;s consolidated financial statements and accompanying notes.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">In March 2016, the FASB issued ASU 2016-07, &#8220;Investments - Equity Method and Joint Ventures (Topic 323)&#8221; (&#8220;ASU 2016-07&#8221;), which simplifies the accounting for equity method investments by removing the requirement that an entity retroactively adopt the equity method of accounting if an investment qualifies for use of the equity method as a result of an increase in the level of ownership or degree of influence. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor&#8217;s previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting. ASU 2016-07 is effective for fiscal years beginning after December 15, 2016, and interim periods within those years, and must be applied prospectively. Early adoption is permitted. The adoption of this ASU is not expected to have a material effect on the Company&#8217;s consolidated financial statements and accompanying notes.</div>

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

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">F-11</font></div>

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

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

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

<div style="TEXT-ALIGN: justify; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Significant accounting policies and recent accounting pronouncements - continued:</font></div>

<div>&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">In March 2016, the FASB issued ASU 2016-09, &#8220;Compensation-Stock Compensation - Improvements to Employee Share-Based Payment Accounting (Topic 718)&#8221; (&#8220;ASU 2016-09&#8221;), which involves several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Under the new standard, all excess income tax benefits and deficiencies are to be recognized as income tax expense or benefit in the income statement and the tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur. An entity should also recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period. Excess tax benefits should be classified along with other income tax cash flows as an operating activity. With regard to forfeitures, the entity may make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016 including interim periods within that reporting period. Early adoption is permitted. The adoption of this ASU is not expected to have a material effect on the Company&#8217;s consolidated financial statements and accompanying notes.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">In May and April 2016, the FASB issued two Updates with respect to Topic 606: ASU 2016-10, &#8220;Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing&#8221; and ASU 2016-12, &#8220;Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients.&#8221; The amendments in these Updates do not change the core principle of the guidance in Topic 606, which is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services by applying the following steps: (1) Identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. The amendments in Update 2016-10 simply clarify the following two aspects of Topic 606: (1) identifying performance obligations and (2) licensing implementation guidance. The amendments in Update 2016-12 similarly affect only certain narrow aspects of Topic 606; namely, (1) &#8220;Assessing the Collectibility Criterion in Paragraph 606-10-25-1(e) and Accounting for Contracts That Do Not Meet the Criteria for Step 1 (Applying Paragraph 606-10-25-7),&#8221; (2) &#8220;Presentation of Sales Taxes and Other Similar Taxes Collected from Customers,&#8221; (3) &#8220;Noncash Consideration,&#8221; (4) &#8220;Contract Modifications at Transition,&#8221; (5) &#8220;Completed Contracts at Transition,&#8221; and (6)&#160; &#8220;Technical Correction.&#8221; The amendments in these Updates also affect the guidance in Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606), which is not yet effective. The effective date and transition requirements for the amendments in these Updates are the same as the effective date and transition requirements in Topic 606 (and any other Topic amended by Update 2014-09). Accounting Standards Update 2015-14, &#8220;Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,&#8221; has deferred the effective date of Update 2014-09 for public business entities to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted. Presently, the Company is assessing what effect the adoption of these ASUs will have on its financial statements and accompanying notes.</div>

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

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">F-12</font></div>

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

<div><br>
</div>

<div style="TEXT-ALIGN: justify"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Transactions with Related Parties:</font></div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Details of the Company&#8217;s transactions with related parties did not change in the six-month period ended June 30, 2016 and are discussed in Note 3 of the Company&#8217;s consolidated financial statements for the year ended December 31, 2015, included in the Company&#8217;s 2015 20-F Annual Report.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Transactions and balances with related parties are analyzed as follows:</div>

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

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zecfed8fd9593436a82eab9c0baf35ca6" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Balance Sheet</div>
</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">December 31, 2015</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Assets</div>
</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Oceanbulk Maritime S.A. and its affiliates</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,209</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">672</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total Assets</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1,209</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">672</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Liabilities</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Interchart Shipping Inc.</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">8</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">125</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Combine Marine Ltd.</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">9</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Oceanbulk Maritime S.A. and its affiliates</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">33</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">29</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Management and Directors Fees</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">315</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">254</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Managed Vessels of Oceanbulk Shipping LLC</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Oceanbulk Sellers</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">50</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total Liabilities</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">422</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">415</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z83fb41230df14a0f8928b6ae8c80b598" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Statements of Operations</div>
</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="6" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Six month period ended</div>

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

<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2015</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2016</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Voyage expenses-Interchart</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,650</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,650</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Executive directors consultancy fees</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(317</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(248</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Non-executive directors compensation</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(79</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(75</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Office rent - Combine Marine Ltd.</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(17</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(17</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Management fee expense - Maryville Maritime Inc.</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(315</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Interest on Excel Vessel Bridge Facility</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(220</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div>&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">F-13</font></div>

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

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

<div><br>
</div>

<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">4.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Inventories:</font></div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The amounts shown in the accompanying consolidated balance sheets are analyzed as follows:</div>

<div><br>
</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z074e709c09e64634a8aacee563e78bd2" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WHITE-SPACE: nowrap; VERTICAL-ALIGN: middle" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">December 31, </div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2015</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, </div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2016</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Lubricants</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7,438</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7,273</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Bunkers</div>
</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">6,809</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">9,609</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total</div>
</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">14,247</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">16,882</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessels and other fixed assets, net:</font></div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The amounts in the accompanying consolidated balance sheets are analyzed as follows:</div>

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

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="za8868eeefd114dfb92bb67f3d5ae1b9a" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">December 31, </div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2015</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30,</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2016</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

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

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Vessels</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2,025,688</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2,096,931</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Other fixed assets</div>
</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,810</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,848</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total cost</div>
</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2,027,498</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2,098,779</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Accumulated depreciation</div>
</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(269,946</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(296,272</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessels and other fixed assets, net</div>
</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1,757,552</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1,802,507</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessels acquired / disposed of during the six-month period ended June 30, 2015</div>

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

<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Delivery of newbuilding vessels:</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zdcfee3f5413b47fd8d36acebeb9b3b5f" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(i)</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">On January 8, 2015, the Company took delivery of the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Indomitable</font> (ex&#8211;HN 5016), for which it had previously made a payment of $34,942 in December 2014. To partially finance the delivery installment of the <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Indomitable</font>, the Company drew down $32,480 under the BNP $32,480 Facility.</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zd07367669b9745d1be485365e9994f7b" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(ii)</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">On February 27, 2015, the Company took delivery of the vessels <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Honey Badger</font> (ex&#8211;HN 164) and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Wolverine</font> (ex&#8211;HN 165), for which the Company paid delivery installments of $19,422 each. On March 13, 2015, the Company drew down $38,162 for the financing of both <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Honey Badger</font> and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Wolverine</font> under the Sinosure Facility.</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zbaf54788ec6f4a889565a4d085c9547c" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(iii)</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">On April 2, 2015, the Company took delivery of the Newcastlemax vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Gargantua</font> (ex-HN 166). The delivery instalment of $37,682 was partially financed by $32,400 drawn under the DNB-SEB-CEXIM $227,500 Facility, while the remaining amount was financed through existing cash.</td>
</tr>
</table>
</div>

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

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">F-14</font></div>

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

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

<div><br>
</div>

<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessels and Other Fixed Assets, Net - continued:</font></div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="ze2613e56a8204e4d980fb0c0394f465f" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(iv)</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">On May 27, 2015, the Company took delivery of the Capesize vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Deep Blue</font> (ex-HN 5017). The delivery installment of $34,982 was partially financed by $28,680 drawn under the DVB $31,000 Deep Blue Facility.</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z84ead5bd9d9a48b39146de0742d9f2bf" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(v)</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">On March 25, March 31, April 7 and June 26, 2015, the Company took delivery of the vessels <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Idee Fixe</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Roberta</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Laura</font> and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kaley</font>, respectively, all of which are subject to bareboat charter agreements with affiliates of New Yangzijiang shipyards that are accounted for in the Company&#8217;s consolidated financial statements as a capital lease, as further described in the Company&#8217;s 2015 20-F Annual Report.</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Acquisition of secondhand vessels</font>:</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">During the six-month period ended June 30, 2015, the remaining six of the Excel Vessels (<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Nina</font> (ex-<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Iron Kalypso</font>), <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Nicole</font> (ex-<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Elinakos</font>), <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Claudia</font> (ex-<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Happyday</font>), <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Monisha</font> (ex-<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Iron Beauty</font>), <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Rodon</font> and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Jennifer (ex-Ore Hansa)</font> were delivered to the Company in exchange for 851,577 common shares and $39,475 in cash, completing the acquisitions of 34 vessels from Excel, as further discussed in the Company&#8217;s consolidated financial statements for the year ended December 31, 2015, included in the Company&#8217;s 2015 20-F Annual Report.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Sale of vessels</font>:</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">On January 20, January 28, March 6, and March 19, 2015, the Company entered into separate agreements with third parties to sell four of the recently acquired Excel Vessels: <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Julia</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Tatianna</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Rodon </font>and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Monika</font>, respectively. The vessels were delivered to their new owners on February 4, February 9, March 12 and April 7, 2015, respectively. As of March 31, 2015, the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Monika</font> met the criteria for classification as held for sale, and the Company recognized an impairment loss of $1,080. In addition, the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Kim,</font> which was agreed to be sold in December 2014, was delivered to its new owners on January 21, 2015. In connection with the sale of the vessels <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Julia</font>,<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"> Star Tatianna, Star Monika</font> and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Kim</font>, the Company prepaid an amount of $18,181 under the Excel Vessel CiT Facility.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">In addition, on April 17, 2015, May 18, 2015 and June 5, 2015 the Company entered into separate agreements with third parties to sell the vessels <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Big</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Christianna</font> and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Mega</font>. The vessels were delivered to their new owners on June 4, 2015, June 23, 2015 and June 17, 2015, respectively.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">In connection with the aforementioned sales the Company recognized a total net loss on sale of vessels of $13,389, which is separately reflected in the accompanying statement of operations for the six-month period ended June 30, 2015.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">On May 28, 2015, the Company entered into an agreement with a third party to sell the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Maiden Voyage</font>. The vessel was delivered to its new owner in September 2015. As part of this transaction, the vessel was leased back to the Company under a time charter for two years, and Star Bulk guaranteed all the liabilities and responsibilities of the vessel&#8217;s shipowning entity (Premier Voyage LLC) under this charter. The lease back did not meet the lease classification test for a capital lease and was accounted for as an operating lease. In addition, the vessel did not meet the &#8216;held-for-sale&#8217; classification criteria as of June 30, 2015, as it was not considered available for immediate sale in its present condition. In connection with this sale, an impairment charge of $8,282 was recorded, which includes a $4,411 write-off of the fair value adjustment recognized upon the Merger. Pursuant to the applicable accounting guidance for sale and lease back transactions, the net gain from the sale of <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Maiden Voyage</font> 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 June 30, 2016 is $90 and is reflected within <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#8220;Other non-current liabilities&#8221;</font> in the accompanying consolidated balance sheets, while amortization of this deferred gain during the six-month period ended June 30, 2016 is $37 and is included within <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#8220;Charter-in hire expense&#8221;</font> in the accompanying unaudited interim condensed consolidated statement of operations.</div>

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

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<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessels and Other Fixed Assets, Net - continued:</font></div>

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<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessels acquired / disposed of during the six-month period ended June 30, 2016</div>

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<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Delivery of newbuilding vessels:</div>

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">On January 6, 2016, the Company took delivery of the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Lutas</font> (ex<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</font>HN NE 197). The delivery installment of $19,770 was partially financed by $14,813 drawn down under the Sinosure Facility.</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">On January 8, 2016, the Company took delivery of the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kennadi</font> (ex<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</font>HN 1080). The delivery installment of $21,229 was partially financed by $14,478 drawn down under the Sinosure Facility<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">.</font></td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">On February 26, 2016, the Company took delivery of the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Poseidon</font> (ex<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</font>HN NE 198). The delivery installment of $33,391 was partially financed by $23,400 drawn down under the DNB&#8211;SEB&#8211;CEXIM $227,500 Facility<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">.</font></td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">On March 2, 2016, the Company took delivery of the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Mackenzie</font> (ex<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</font>HN 1081). The delivery installment of $18,221 was partially financed by $12,72<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">0</font> drawn down under the Sinosure Facility<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">.</font></td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">On March 11, 2016 and June 6, 2016, the Company took delivery of the vessels <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Marisa</font> (ex<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</font>HN 1359) and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Libra</font> (ex-HN 1372), which are each subject to a separate bareboat charter agreement with CSSC (Hong Kong) Shipping Company Limited (&#8220;CSSC&#8221;).&#160; Each of these bareboat charter agreements is accounted for in the Company&#8217;s consolidated financial statements as a capital lease, as further described in the Company&#8217;s 2015 20-F Annual Report.</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Sale of vessels</font>:</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">In late 2015, the Company entered into various separate agreements with third parties to sell four of its operating vessels (<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Indomitable</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Magnum Opus</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Tsu Ebisu</font> and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Deep Blue</font>) and five of its newbuilding vessels (<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Behemoth</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Bruno Marks</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Jenmark</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Aries</font> and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Taurus)</font> upon their delivery from the shipyards<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">. </font>In early 2016, the Company entered into various separate agreements with third parties to sell the operating vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Obelix</font> and the newbuilding vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Megalodon</font> (ex-HN 5056) upon its delivery from the shipyard. All these sold vessels were delivered to their purchasers during the six-month period ended June 30, 2016, and the Company recognized a net loss on sale of $21.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">In addition, in late March 2016, the Company negotiated the sale of <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Michele</font>. The Memorandum of the Agreement was signed in April 2016 and the vessel was delivered to its buyers in late May 2016. In connection with this sale, the Company recognized an impairment loss of $5,626, which is reflected within &#8220;Impairment loss&#8221; in the accompanying unaudited interim condensed consolidated statement of operations for the six-month period ended June 30, 2016.</div>

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<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capital leases</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">As of June 30, 2016, the Company was party to six capital leases, for the vessels <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Idee Fixe</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Roberta</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Laura</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kaley</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Marisa and Star Libra</font>. The interest expense on the financial liability related to the Company&#8217;s capital leases for the six-month periods ended June 30, 2016 and 2015 was $3,016 and $872, respectively, and is included within &#8220;Interest and finance costs&#8221; in the accompanying unaudited interim condensed consolidated statements of operations. As of June 30, 2016, the net book value of the vessels under capital leases was $232,835, with accumulated amortization of $5,984. The principal payments required to be made after June 30, 2016 for the outstanding capital lease obligations are as follows:</div>

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

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

<div style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessels and Other Fixed Assets, Net - continued:</font></div>

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<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount</div>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">June 30, 2017</div>
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<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">17,689</div>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">June 30, 2018</div>
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<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
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<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">17,647</div>
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<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">18,534</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 68%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">June 30, 2020</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">21,439</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 68%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">June 30, 2021</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">21,973</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 68%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">June 30, 2022 and thereafter</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">116,710</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 68%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total capital lease minimum payments</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">213,992</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 68%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Excluding bareboat interest</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">51,259</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 68%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total lease commitments</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">162,733</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 68%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Lease commitments &#8211; current portion</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">9,137</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 68%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Lease commitments &#8211; non-current portion</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">153,596</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Other than the sale of <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Michele </font>as discussed above and the termination of two newbuilding contracts discussed in Note 6 below, which collectively resulted in an aggregate impairment loss of $6,694 during the six-month period ended June 30, 2016, no other events and circumstances were identified that would require an additional impairment since the Company&#8217;s last impairment exercise as of December 31, 2015.</div>

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

<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">6.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Advances for vessels under construction and acquisition of vessels:</font></div>

<div style="TEXT-ALIGN: left">&#160;</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z07e6a34a3c4b4468ac9bf0de1fd138da" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div></div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">December 31, </div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2015</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, </div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2016</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Pre-delivery Yard installments and Fair value adjustment</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">65,009</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">26,054</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Bareboat capital leases &#8211; upfront hire &amp; handling fees</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">54,428</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">25,272</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Capitalized interest and finance costs</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">6,301</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">3,552</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Other capitalized costs</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2,172</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,014</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">127,910</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">55,892</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">During the six-month period ended June 30, 2016, the Company terminated two shipbuilding contacts, leaving the Company with no future capital expenditure obligations with respect to these two newbuildings. Following the Company&#8217;s impairment evaluation as of December 31, 2015, an additional impairment charge of $1,068 was recorded in the six-month period ended June 30, 2016 in order to totally impair the cost of these advances.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">As summarized in the relevant table of Note 1, as of June 30, 2016 the Company was party to five newbuilding contracts (three of which are subject to capital bareboat leases) for the construction of dry bulk carriers of various types. As of June 30, 2016, the total aggregate remaining contracted price for the five newbuilding vessels plus agreed additional amounts was $193,395, payable in periodic installments up to their deliveries, of which $83,492 is payable during the next twelve-month period ending June 30, 2017 and the remaining $109,903 is payable during the twelve months ending June 30, 2018.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">As a result of the renegotiation of prices and delivery dates of certain of the Company&#8217;s newbuilding vessels, as disclosed in the Company&#8217;s consolidated financial statements for the year ended December 31, 2015, included in the Company&#8217;s 2015 20-F Annual Report, the Company as of June 30, 2016 is entitled to receive a refund of $5,492 from the shipyards, $1,604 of<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>which is separately reflected in the accompanying relevant consolidated balance sheet under &#8220;Other non-current assets,&#8221; and the remaining $3,888 of which is included under &#8220;Prepaid expenses and other receivables.&#8221;</div>

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

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">F-17</font></div>

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

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

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<div style="TEXT-ALIGN: justify"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">7.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fair value of Above-Market Acquired Time Charters:</font></div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">As part of the Merger in July 2014, a $1,967 intangible asset was recognized in connection with a fair value adjustment for two favorable time charters for the vessels <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Amami </font>and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Madredeus</font>, each of which was leased by Oceanbulk at the time of the Merger.<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>Accumulated amortization<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>as of December 31, 2015 in connection with these time charters was $1,713, leaving an unamortized balance as of December 31, 2015 of $254, which was fully amortized during the six-month period ended June 30, 2016. The corresponding amortization for the six-month period ended June 30, 2015 was $575. Such amortization is included under &#8220;Voyage revenues&#8221; in the accompanying unaudited interim condensed consolidated statements of operations.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The amortization of the fair value of above-market acquired time charters for the six-month period ended June 30, 2015 also included $6,496 related to the vessels <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Big,</font>&#160;<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Martha (ex-Christine)</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Pauline (ex-Sandra)</font> and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Despoina (ex-Lowlands Beilun) </font>(which had been fully amortized up to December 31, 2015, as further described in Note 7 in the Company&#8217;s consolidated financial statements for the year ended December 31, 2015, included in the Company&#8217;s 2015 20-F Annual Report).</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">In the second quarter of 2015, the Company entered into an agreement with a third party to sell the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Big</font>. In connection with this sale, its above-market acquired time charter was terminated early, and the unamortized balance relating to this vessel of $2,114 at June 30, 2015, was written off and reflected under &#8220;Loss on time charter agreement termination&#8221; in the accompanying unaudited interim condensed consolidated statement of operations for the six-month period ended June 30, 2015.</div>

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

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<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">8.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Long-term Debt:</font></div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Details of the Company&#8217;s credit facilities and debt securities are discussed in Note 8 of the Company&#8217;s consolidated financial statements for the year ended December 31, 2015, included in the Company&#8217;s 2015 20-F Annual Report.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">New Drawdowns</font>: As further disclosed in Note 5, in connection with the delivery of the vessels <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Poseidon, Star Lutas, Kennadi and Mackenzie</font> during the six-month period ended June 30, 2016, the Company drew down an amount of $23,400 under the DNB-SEB-CEXIM $227,500 Facility and an aggregate amount of $42,011 under the Sinosure Facility.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Prepayments due to sale: </font>In connection with the sale of the vessels <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Tsu Ebisu, Deep Blue, Magnum Opus,</font>&#160;<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Obelix. Indomitable and Michele</font> discussed in Note 5, during the six-month period ended June 30, 2016 the Company prepaid an aggregate amount of $111,407 under the corresponding facilities (the Deutsche Bank $85,000 Facility, the HSBC $20,000 Dioriga Facility, the DVB $31,000 Facility, the ABN $87,458 Facility, Commerzbank $120,000 Facility and BNP $32,480 Facility).</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Commerzbank $120,000 Facility - Refinancing: </font>In April 2016, the Company and Commerzbank entered into a refinancing amendment of the Commerzbank $120,000 Facility. This refinancing included (a) changes to certain covenants governing this facility, (b) a different amortization schedule for this facility, and (c) a change in the final repayment date from October 2016 to October 2018.</div>

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">In addition, the Company&#8217;s credit facilities contain financial covenants and undertakings requiring the Company to maintain various financial ratios, including:</div>

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

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z441281286e3742cc9669f16dd1c82f88" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 18pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">a minimum ratio of aggregate vessel value to loans secured (&#8220;SCR&#8221;);</td>
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<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zbeee05a3628541cc9f504a510f0d087f" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 18pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">a maximum ratio of total liabilities to market value adjusted total assets;</td>
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</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z9f11a52ad6dd4f0e8f0ff7e70a1a779e" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">a minimum EBITDA to interest coverage ratio;</td>
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<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z2c2c2fbd54b141eebd2bb1cac0009b77" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">a minimum liquidity; and</td>
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<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zc30be5ec9dde47deb36ee8302f3ac962" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 18pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">a minimum equity ratio.</td>
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<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">As of December 31, 2015 and June 30, 2016 the Company was required to maintain minimum liquidity, not legally restricted, of $150,000 and $48,643, respectively, which is included within &#8220;Cash and cash equivalents&#8221; in the accompanying consolidated balance sheets. In addition, as of December 31, 2015 and June 30, 2016 the Company was required to maintain minimum liquidity, legally restricted, of $13,997 and $13,907, respectively, which is included within &#8220;Restricted cash&#8221; in the accompanying consolidated balance sheets.</div>

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

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

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<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">8.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Long-term Debt - continued:</font></div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">As of December 31, 2015, as a result of market conditions, the market value of certain of the Company&#8217;s vessels was below the minimum SCR required under certain loan agreements. An 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. As such, as of December 31, 2015, $14,268 (which was the amount that could be made repayable under the SCR provisions by the lenders (or &#8220;SCR Shortfall Amount&#8221;)) was reclassified as current portion of long-term debt within current liabilities. Apart from this, as of December 31, 2015, the Company was in compliance with the applicable financial and other covenants contained in its debt agreements, including the 2019 Notes.</div>

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">As of August 31, 2016, the Company&#8217;s lenders agreed to, among other things, (i) defer principal payments owed through June 30, 2018 to the due date of the balloon installments of each facility, (ii) waive in full or substantially relax the financial covenants, effective as of March 31, 2016 and June 30, 2016 and through December 31, 2019 and (iii) implement a cash sweep mechanism pursuant to which excess cash will be applied towards the payment of deferred amounts, payable <font style="FONT-STYLE: italic">pro rata</font> based on each facility&#8217;s deferred amounts relative to the total deferred amounts. In exchange of net proceeds, the Company has agreed to raise additional equity of not less than $50.0 million by September 30, 2016 and impose restrictions on paying dividends (the &#8220;Restructuring&#8221;). In accordance with guidance related to the classification of short-term obligations expected to be refinanced on a long-term basis, the Company has reclassified all of the amounts outstanding under its bank loans as of June 30, 2016 in accordance with their repayment terms, as amended pursuant to the Restructuring.</div>

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

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

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<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">8.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Long-term Debt - continued:</font></div>
</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The principal payments required to be made after June 30, 2016 for all of the then-outstanding bank debt, <font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">after giving effect to the Restructuring</font>, are as follows:</div>

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

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z20d1257247274907b4736ee67977ed52" border="0" cellspacing="0" cellpadding="0" align="center">
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<td style="PADDING-BOTTOM: 2px; WIDTH: 88%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Twelve month periods ending</div>
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<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 88%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">June 30, 2017</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 88%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">June 30, 2018</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 88%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">June 30, 2019</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">288,122</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 88%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">June 30, 2020</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">218,939</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 88%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">June 30, 2021</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">131,636</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 88%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">June 30, 2022 and thereafter</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">132,892</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 88%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total Long term debt</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">771,589</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 88%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Unamortized Deferred financing fees</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">9,992</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 88%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total Long term debt, net</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">761,597</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 88%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Current portion of long term debt</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 88%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt">Long term debt, net</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">761,597</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The 8.00% 2019 Notes mature in November 2019 and are presented in the accompanying consolidated balance sheets as of December 31, 2015 and June 30, 2016 net of unamortized deferred financing fees of $1,677 and $1,461, respectively.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">As of June 30, 2016, 64 of the Company&#8217;s owned vessels, having a net carrying value of $1,569,264, were subject to first-priority mortgages as collateral to the Company&#8217;s loan facilities. In addition, all six of the Company&#8217;s bareboat chartered vessels, having a net carrying value of $232,835, were pledged as collateral under the Company&#8217;s bareboat charter agreements.</div>

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

<div style="TEXT-ALIGN: left">For the six-month periods ended June 30, 2015 and 2016, the Company&#8217;s existing debt agreements bore interest at a weighted-average rate of approximately 3.30% and 3.90%, respectively.</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">F-21</font></div>

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

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

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

<div style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">8.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Long-term Debt - continued:</font></div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">All of the Company&#8217;s bank loans bear interest at LIBOR plus a margin. The amounts of &#8220;Interest and finance costs&#8221; included in the accompanying consolidated statements of operations are analyzed as follows:</div>

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

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z7d9a63ab203043e89b044ab629223b53" border="0" cellspacing="0" cellpadding="0" align="center">
<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom"></td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: top" valign="bottom" colspan="6" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Six month period ended</div>

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

<tr>
<td style="TEXT-INDENT: -9pt; WIDTH: 76%; MARGIN-LEFT: 9pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2015</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2016</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt">Interest on long term debt and capital leases</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">16,991</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">19,651</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Less: Interest capitalized</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(6,221</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(2,578</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt">Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other Comprehensive Income (Note 14)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,491</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">667</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt">Amortization of deferred finance charges</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,199</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,561</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt">Other bank and finance charges</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">411</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">393</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Interest and finance costs</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">13,871</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">19,694</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">In connection with the prepayments discussed above following the sale of the corresponding vessels, the cancellation of certain loan commitments resulting from the sale of certain newbuilding vessels upon their delivery from the shipyards and the termination of two newbuilding contracts as further discussed in Note 6, $1,801 of unamortized deferred finance charges was written off and included under &#8220;Loss on debt extinguishment&#8221; in the accompanying unaudited interim condensed consolidated statement of operations for the six-month period ended June 30, 2016. In connection with the prepayment of the Excel Vessel Bridge Facility, the ABN AMRO $31,000 Facility and the Commerzbank $26,000 Facility, $974 of unamortized deferred finance charges was written off and included under &#8220;Loss on debt extinguishment&#8221; in the accompanying consolidated statement of operations for the six-month period ended June 30, 2015.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">9.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Preferred and Common Shares and Additional Paid-in Capital:</font></div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Details of the Company&#8217;s Preferred and Common Shares are discussed in Note 9 of the Company&#8217;s consolidated financial statements for the year ended December 31, 2015, included in the Company&#8217;s 2015 20-F Annual Report.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Equity offerings</font>: On January 14, 2015, the Company completed a primary underwritten public offering of 9,800,084 of its common shares, at a price of $25.00 per share. The aggregate proceeds to the Company, net of underwriters&#8217; commissions and offering expenses, were $242,211. In addition, on May 18, 2015, the Company completed a primary underwritten public offering of 11,250,000 common shares, at a price of $16.00 per share. The aggregate proceeds to the Company, net of underwriters&#8217; commissions and offering expenses, were $175,586.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Issuance of shares in connection with vessel acquisitions</font>: As further discussed in Note 5 above, 851,577 of the Company&#8217;s common shares were issued during the six-month period ended June 30, 2015 in connection with the delivery of the final six Excel Vessels.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Issuance of shares in connection with the Company&#8217;s Equity Incentive Plan</font>: In April 2016, the Company issued 134,545 common shares in connection with its 2015 Equity Incentive Plan.</div>

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

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">5-for-1 reverse stock split: </font>Effective as of the opening of trading on June 20, 2016, the Company effected a five-for-one reverse stock split of its common shares. The reverse stock split was approved by shareholders at the Company&#8217;s Special Meeting of Shareholders held on December 21, 2015. The reverse stock split reduced the number of the Company&#8217;s common shares from 219,788,952 to 43,955,659 and affected all issued and outstanding common shares. No fractional shares were issued in connection to the reverse split. Shareholders who would otherwise have held a fractional share of the Company&#8217;s common stock received a cash payment in lieu of such fractional share.</div>

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

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

<div><br>
</div>

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

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">As of January 1, 2015, the Company engaged Ship Procurement Services S.A. (&#8220;SPS&#8221;), an unaffiliated third-party company, to provide to its fleet certain procurement services at a daily fee of $0.295 per vessel. Total management fees to SPS for the six-month periods ended June 30, 2015 and 2016 were $3,748 and $3,911, respectively, and are included in &#8220;Management fees&#8221; in the accompanying unaudited interim condensed statement of operations. In addition, Management fees for the six-month period ended June 30, 2015 also include $315 of fees incurred pursuant to the management agreement with Maryville discussed in Note 3.</div>

<div><br>
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<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">11.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Earnings / (Loss) per Share:</font></div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">All shares issued (including the restricted shares issued under the Company&#8217;s equity incentive plans) are the Company&#8217;s common shares and have equal rights to vote and participate in dividends. The restricted shares issued under the Company&#8217;s equity incentive plans are subject to forfeiture provisions set forth in the applicable award agreements. The calculation of basic earnings per share does not consider the non-vested shares as outstanding until the time-based vesting restriction has lapsed.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The Company calculates basic and diluted earnings / loss per share as follows:</div>

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

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zfeb137e2823a435ab82f6feaaaa3d4c7" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="6" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Six month period ended June 30,</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2015</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2016</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income / (Loss) :</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Net income / (loss)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(105,197</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(81,696</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Basic earnings / (loss) per share:</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Weighted average common shares outstanding, basic</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">34,347,332</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">43,880,713</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Basic earnings / (loss) per share</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(3.06</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(1.86</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Effect of dilutive securities:</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Dillutive effect of non vested shares</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Weighted average common shares outstanding, diluted</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">34,347,332</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">43,880,713</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 45pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Diluted earnings / (loss) per share</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(3.06</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(1.86</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Because the Company incurred net losses for the six-month periods ended June 30, 2015 and 2016, the effect of the 135,230 and 690,000 non-vested shares and of the 104,250 non-vested share options outstanding as of June 30, 2015 and 2016, respectively, would be anti-dilutive; therefore &#8220;Basic earnings / (loss) per share&#8221; equals &#8220;Diluted earnings / (loss) per share.&#8221;</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">12.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Equity Incentive Plans:</font></div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Details of the Company&#8217;s Equity Incentive Plans and share awards granted up to December 31, 2015 are discussed in Note 13 of the Company&#8217;s consolidated financial statements for the year ended December 31, 2015, included in the Company&#8217;s 2015 20-F Annual Report.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">All non-vested shares and options vest according to the terms and conditions of the applicable agreements with the Company. The grantee does not have the right to vote the non-vested shares or exercise any right as a shareholder of the non-vested shares, although the issued and non-vested shares pay dividends as declared. The dividends with respect to these shares are forfeitable. Share options have no voting or other shareholder rights.</div>

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

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">F-23</font></div>

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

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

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

<div style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">12.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Equity Incentive Plans - continued:</font></div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The Company currently 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&#8217;s equity incentive plans or awards remain restricted until they vest. For the six-month periods ended June 30, 2015 and 2016, the total share-based compensation cost was $1,407 and $2,285, respectively, included under &#8220;General and administrative expenses&#8221; in the accompanying unaudited interim condensed consolidated statements of operations.</div>

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

<div style="TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">On May 9, 2016, the Company&#8217;s Board of Directors adopted the 2016 Equity Incentive Plan (the &#8220;2016 Plan&#8221;) and reserved for issuance 940,000 common shares thereunder. The terms and conditions of the 2016 Plan are substantially similar to the terms and conditions of Company&#8217;s previous equity incentive plans. In addition, on May 9, 2016, 690,000 restricted common shares were granted to certain directors, officers, employees of the Company, 650,000 of which vest within the third quarter of 2016 while the remaining 40,000 vest on March 1, 2018.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">A summary of the status of the Company&#8217;s non-vested share options and restricted shares as of June 30, 2016 and the movement during the six-month periods ended June 30, 2015 and 2016, respectively, is presented below.</div>

<div><br>
</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z5720f0e9d82e493e8a14925e50dca2f5" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number of </div>

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

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

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

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Options</div>
</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 64%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Outstanding at January 1, 2016</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">104,250</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">27.5</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">7.0605</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 64%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Granted</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 64%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Vested</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 64%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Outstanding as of June 30, 2016</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">104,250</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">27.5</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">7.0605</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Number of outstanding options as well as their exercise price and weighed average grant date fair value have been revised retroactively, for all periods presented, to give effect to the 5-for-1 reverse stock split, discussed in Note 1, by keeping the total grant date fair value unchanged.</div>

<div><br>
</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z9028534f2ed14ab9b01ac319cd19e3d6" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number of </div>

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

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Grant Date Fair </div>

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

<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Unvested as at January 1, 2015</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">78,833</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">54.30</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Granted</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">135,230</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">17.75</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Vested</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(78,833</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">54.30</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Unvested as at June 30, 2015</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">135,230</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">17.75</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Unvested as at January 1, 2016</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">135,230</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">17.75</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Granted</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">690,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">3.75</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Cancelled</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(3,185</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">17.75</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Vested</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(132,045</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">17.75</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Unvested as at June 30, 2016</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">690,000</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">3.75</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The estimated compensation cost relating to non-vested restricted share awards and share options not yet recognized was $1,000 and $557, respectively, as of June 30, 2016 and is expected to be recognized over the weighted average period of 0.30 years and 3.79 years, respectively.</div>

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

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">F-24</font></div>

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

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

<div><br>
</div>

<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">13.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Commitments and Contingencies:</font></div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 18pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">a)</font>&#160;&#160;&#160; &#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Lease commitments</font></div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 18pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The following table sets forth inflows and outflows related to the Company&#8217;s leases, as at June 30, 2016.</div>

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

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z52d522b9df92453aacdfbfca4aeb4928" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; TEXT-INDENT: -9pt; WIDTH: 30%; MARGIN-LEFT: 9pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="26" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Twelve month periods ending June 30,</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">+ inflows/ - outflows</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2017</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2018</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2019</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2020</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2021</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2022 and </div>

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

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 30%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Future, minimum, non-cancellable charter revenue (1)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">21,372</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">21,372</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 30%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Future, minimum, non-cancellable lease payment under vessel operating leases (2)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(4,156</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(3,595</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(561</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 30%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Bareboat capital leases - upfront hire &amp; handling fees (3)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(6,808</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(6,472</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(336</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 30%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Bareboat commitments charter hire (4)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(164,765</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(3,848</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(10,467</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(12,512</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(12,450</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(12,699</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(112,789</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 30%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(154,357</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">7,457</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(11,364</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(12,512</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(12,450</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(12,699</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(112,789</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>
</table>

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

<div>
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</div>
</div>

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="ze672a036e7954943af52cf8b22547402" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">The amounts represent the minimum contractual charter revenues to be generated from the existing non-cancellable time and freight charters until their expiration, net of address commission, assuming no off-hire days other than those related to scheduled interim surveys and special surveys of the vessels.</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z219ced35be6842618dec51cf2cf88832" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">The amounts represent the Company&#8217;s commitments under the operating lease arrangement for <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Maiden Voyage</font> disclosed in Note 5.</td>
</tr>
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</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zeb105f0af195446e9d81f80ae9a22bc8" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(3)</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">The amounts represent the Company&#8217;s commitments for upfront hire and handling fees under the bareboat lease arrangements for the vessels under construction.</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z02fb2016ebdd4aa19459446725478fd0" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(4)</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">The amounts represent the Company&#8217;s commitments for charter hire fees under the bareboat lease arrangements for the vessels under construction. The bareboat charter hire is comprised of both a fixed and a variable portion; the variable portion is calculated based on the 6-month LIBOR rate of 0.92415%, as of June 30, 2016.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">b)</font>&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Legal proceedings</font></div>

<div><br>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Various claims, suits, and complaints, including those involving government regulations and product liability, arise in the ordinary course of the shipping business. In addition, losses may arise from disputes with charterers, agents, insurance and other claims with suppliers relating to the operations of the Company&#8217;s vessels. The Company accrues for the cost of environmental liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. Currently, management is not aware of, and has not accrued for, any such claims or contingent liabilities requiring disclosure in the accompanying unaudited interim condensed consolidated financial statements.</div>

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

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

<div><br>
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<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">13.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Commitments and Contingencies - continued:</font></div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">On July 13, 2011 <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Cosmo</font> was detained 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 detained, and related records were allegedly deficient. Administrative investigation commenced locally. The Company posted a cash collateral of &#8364; 340,000 (approximately $377, using the exchange rate as of June 30, 2016, eur/usd 1.11) to guarantee the payment of fines that could be assessed in the future, and the vessel was released. The cash collateral of &#8364; 340,000 was released to the Company in March 2012, after being replaced by a P&amp;I Letter of undertaking. The fines were subsequently reduced by the Spanish administrative authorities to &#8364;260,000 (approximately $289, using the exchange rate of June 30, 2016, eur/usd1.11). After final adjudication of the fines before the Spanish Courts, the Company settled with payments in cash the equivalent amount of the fines of &#8364;60,000 in March 2015 (approximately $67, using the exchange&#160;&#160; rate as of June 30, 2016, eur/usd 1.11) and &#8364;200,000 in August 2016 (approximately $222, using the exchange rate as of June 30, 2016, eur/usd 1.11) and the file was closed. The Company&#8217;s vessels are covered for pollution in the amount of $1 billion of insurance per vessel per incident by the Protection and Indemnity (P&amp;I) Association in which the Company&#8217;s vessels are entered. The Company&#8217;s vessels are subject to calls payable to their P&amp;I Association and may be subject to supplemental calls which are based on estimates of premium income and anticipated and paid claims. 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 condensed consolidated financial statements.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">As described on Item 8 of the Company&#8217;s the 2015 20-F Annual Report, on October 23, 2014, a purported shareholder (the &#8220;Plaintiff&#8221;) of the Company filed a derivative and putative class action lawsuit in New York state court against the Company&#8217;s Chief Executive Officer, members of its Board of Directors and several of its shareholders and related entities. 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&#8217; interests in the Company have increased and that the Plaintiff&#8217;s interest in the Company has been diluted. The lawsuit also alleges that the Company&#8217;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&#8217;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. On March 4, 2015, the Company and the other defendants moved to dismiss the complaint. On February 18, 2016, the court granted the Company&#8217;s motion to dismiss in full and dismissed the matter. On February 24, 2016, Plaintiff filed a notice of appeal. Plaintiff&#8217;s appeal brief was served on June 1, 2016. Defendants&#8217; response brief is due on August 31, 2016 and following Plaintiff&#8217;s request for extension on their reply brief, the Court granted an extension for September 26, 2016. No further schedule has been set. The appeal is pending.</div>

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

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">F-26</font></div>

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

<div><br>
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<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">14.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fair value measurements:</font></div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The Company recognizes all derivative instruments as either assets or liabilities at fair value on its consolidated balance sheets in accordance with ASC Topic 815, &#8220;<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Derivatives and Hedging</font>&#8221;.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Fair value on a recurring basis:</u></div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Interest rate swaps</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The Company enters into interest rate swap transactions to manage interest costs and risk associated with changing interest rates with respect to its variable interest loans and credit facilities.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">In June 2013, the Company entered into two interest rate swap agreements with Credit Agricole Corporate and Investment Bank (the &#8220;Credit Agricole Swaps&#8221;) to fix forward its floating interest rate liabilities under the two tranches of the Credit Agricole $70,000 Facility. The Credit Agricole Swaps were based on an amortizing notional amount beginning from $26,840 and $28,628, for the <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Borealis</font> and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Polaris</font> 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 June 30, 2016, the notional amount of these swaps was $23,927 and $25,131, for the <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Borealis</font> and the <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Polaris</font>, respectively.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">In addition, on April 28, 2014, the Company entered into two interest rate swap agreements (the &#8220;HSH Swaps&#8221;) to fix forward 50% of its floating interest rate liabilities for the HSH Nordbank $35,000 Facility. The HSH Swaps came into effect in September 2014 and mature in September 2018. Under the terms of the HSH Swaps, the Company pays on a quarterly basis a fixed rate of 1.765% per annum, while receiving a variable amount equal to the three-month LIBOR, both applied on the notional amount of the swaps outstanding at each settlement date. As of June 30, 2016, the aggregate notional amount of these swaps was $14,781.</div>

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

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">F-27</font></div>

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

<div><br>
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<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">14.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fair value measurements - continued:</font></div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">On August 31, 2014 the Company designated the Credit Agricole Swaps and the HSH Swaps as cash flow hedges in accordance with ASC 815, &#8220;<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Derivatives and Hedging.</font>&#8221; Accordingly, in the accompanying unaudited interim condensed consolidated statement of operations for the relevant period, the effective portion of these cash flow hedges is reported in &#8220;Accumulated other comprehensive loss,&#8221; while the ineffective portion of these cash flow hedges, if any, is reported under &#8220;Gain / (Loss) on derivative financial instruments, net.&#8221;</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">As part of the Merger, the Company acquired five swap agreements that Oceanbulk Shipping had entered into during the third quarter of 2013 with Goldman Sachs Bank USA (the &#8220;Goldman Sachs Swaps&#8221;). The Goldman Sachs Swaps were effective by October 2014 and mature in April 2018. Under their terms, Oceanbulk Shipping makes quarterly payments to the counterparty at fixed rates ranging between 1.79% and 2.07% per annum, based on an aggregate notional amount that varies. From July 1, 2015 to October 1, 2015, this notional amount reached an upper limit of $461,264. The counterparty makes quarterly floating rate payments at three-month LIBOR to the Company based on the same notional amount. Upon the completion of the Merger, on July 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 &#8220;Accumulated other comprehensive loss&#8221; while the ineffective portion of these cash flow hedges was reported as gain under &#8220;Gain /(Loss) on derivative financial instruments, net&#8221; in the statement of operations for the relevant period.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Due to (i) changes in the timing of delivery of some of the Company&#8217;s newbuilding vessels and, by extension, the timing of some of the forecasted transactions, (ii) changes in LIBOR curves, and (iii) the sale in 2015 of some of the Company&#8217;s vessels whose loans had been designated as hedged items, the Company determined that the &#8220;highly effective&#8221; criterion of the hedging effectiveness test for the Goldman Sachs Swaps was not satisfied for the quarter ended June 30, 2015. 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 &#8220;Gain / (Loss) on derivative financial instruments, net.&#8221; The amount already reported up to March 31, 2015 in &#8220;Accumulated other comprehensive loss&#8221; with respect to the corresponding swaps is being reclassified to earnings when the hedged forecasted transaction impacts the Company&#8217;s earnings (i.e., when the hedged loan interest is incurred), except for that portion related to loans of the sold vessels that is being written down to earnings in the period when sale is probable, for which the forecasted transactions are no longer expected to occur. As of June 30, 2016, the notional amount of these swaps was $431,750.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The amount recognized in &#8220;Other comprehensive income/ (loss)&#8221; is derived from the effective portion of unrealized losses from cash flow hedges.</div>

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

<div><br>
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<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">14.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fair value measurements - continued:</font></div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The amounts of Gain / (Loss) on derivative financial instruments recognized in the accompanying unaudited interim condensed consolidated statements of operations are analyzed as follows:</div>

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<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zc6fc730337784c0ea899c5cd45e67151" cellspacing="0" cellpadding="0">
<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; TEXT-INDENT: -9pt; MARGIN-LEFT: 9pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="6" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Six month period ended June 30,</div>
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<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
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<tr>
<td style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; MARGIN-LEFT: 9pt; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2015</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2016</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Unaudited Condensed Consolidated Statement of Operations</div>
</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: middle" valign="bottom">
<div style="FONT-STYLE: italic; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Gain/(loss) on derivative instruments, net</div>
</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 27pt; FONT-SIZE: 10pt">Unrealized gain/(loss) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">883</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,930</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 27pt; FONT-SIZE: 10pt">Realized gain/(loss) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,344</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(2,709</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 27pt; FONT-SIZE: 10pt">Write-off of unrealized losses related to forecasted transactions which are no longer considered probable reclassified from other comprehensive income/(loss)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(227</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(42</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total Gain/(Loss) on derivative instruments, net</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(688</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(4,681</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; TEXT-INDENT: -9pt; WIDTH: 76%; MARGIN-LEFT: 9pt; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="FONT-STYLE: italic; TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Interest and finance costs</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 27pt; FONT-SIZE: 10pt">Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other comprehensive income/(loss) (Note 8)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,491</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(667</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-INDENT: -9pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total Gain/(Loss) recognized</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(1,491</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(667</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">An amount of approximately $814 is expected to be reclassified into earnings during the following 12-month period when realized.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">In relation to the above interest rate swap agreements designated as cash flow hedges and the corresponding amount recorded in &#8220;Accumulated other comprehensive loss&#8221; as of June 30, 2016, and in accordance with ASC 815 &#8220;<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Derivatives and Hedging - Timing and Probability of the Hedged Forecasted Transaction</font>,&#8221; the management of the Company considered the creditworthiness of its counterparties and the expectations of the forecasted transactions and determined that no events have occurred that would make the forecasted transaction not probable.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">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 statement requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories:</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z645e1090fcaf414b9bb5ea82fe0b6668" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 54pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right"><u>Level 1:</u></td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Quoted market prices in active markets for identical assets or liabilities</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z01700e8e49874aa1ac309155a9f66820" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 54pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right"><u>Level 2:</u></td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Observable market-based inputs or unobservable inputs that are corroborated by market data</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z436195228d0341389d907a1e2db9eda9" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 54pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right"><u>Level 3:</u></td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Unobservable inputs that are not corroborated by market data</td>
</tr>
</table>
</div>

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

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">F-29</font></div>

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

<div><br>
</div>

<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">14.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fair value measurements - continued:</font></div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The following table summarizes the valuation of the Company&#8217;s financial instruments as of December 31, 2015 and June 30, 2016 based on Level 2 observable inputs of the fair value hierarchy such as interest rate curves.</div>

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

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zd94bfa4b9f5c45ccba1d549b2068c383" cellspacing="0" cellpadding="0">
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<td style="VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="14" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Significant Other Observable Inputs (Level 2)</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="6" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">December 31, 2015</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="6" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(not designated as </div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">cash flow hedges)</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(designated as </div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">cash flow hedges)</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(not designated as </div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">cash flow hedges)</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(designated as </div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">cash flow hedges)</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ASSETS</div>
</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Interest rate swaps - asset position</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">LIABILITIES</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Interest rate swaps - liability position</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7,642</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">807</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">9,155</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,362</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">7,642</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">807</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">9,155</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1,362</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">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 June 30, 2016.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The 8.00% 2019 Notes have a fixed rate, and their estimated fair value, determined through Level 1 inputs of the fair value hierarchy (quoted price on NASDAQ under the ticker symbol SBLKL), is approximately $33,000 as of June 30, 2016.</div>

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

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<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber">F-30</font></div>

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

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>

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

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<div style="TEXT-ALIGN: justify"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">15.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Subsequent Events:</font></div>

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<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Loan developments</font></div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">As further described in Note 8, in August 2016 the Company entered into the Restructuring with its lenders.</div>

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

<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Equity offering</font></div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">To comply with the conditions precedent of the Restructuring, the Company launched&#160;on September 14, 2016&#160;an equity raise for $51.5 million gross proceeds. Three of the Company&#8217;s significant shareholders have indicated that they intend to purchase their pro rata share in such equity raise. This information does not constitute an offer to sell or a solicitation of an offer to buy any security or other financial instrument.</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fleet update</font></div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">On July 26th, 2016 and August 10th, 2016 the Company entered into separate agreements with third parties to sell the vessels <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Monisha</font> and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Aline</font> respectively. The vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Monisha</font> was delivered to its new owners on August 17, 2016 and the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Aline</font> is expected to be delivered to its new owners until the end of September 2016.</div>

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<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Listing Compliance</font></div>

<div><br>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">On July 7, 2016, the Company announced that it has regained compliance with Listing Rule 5450(a)(1) of the NASDAQ Global Select Market with respect to the minimum bid price for the Company&#8217;s common shares, which the NASDAQ Listing Qualifications Department confirmed in a letter to the Company dated July 6, 2016.</div>

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">
<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Equity Award</font></div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">On September 12, 2016, the Company&#8217;s Board of Directors granted 345,000 restricted common shares to certain of the Company&#8217;s directors and officers, as a bonus for the successful Restructuring discussed in Note 8, subject to the successful completion of the equity offering described above in Note 15(b).&#160;Out of these shares, 305,000 will vest on March 31, 2017,&#160;and the remaining 40,000 will vest on March 1, 2018.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal" id="DSPFPageNumber"></font>&#160;</div>
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<div style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: normal">F-31</div>

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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>s001408x1_ex99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
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<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Exhibit 99.2</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><img src="image00001.jpg"></div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">STAR BULK CARRIERS CORP. REPORTS <br>
 FINANCIAL RESULTS FOR THE SECOND QUARTER AND FIRST HALF OF 2016,</div>

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

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">AGREEMENT WITH ITS LENDERS TO DEFER 100% OF ITS DEBT REPAYMENT FOR 25 MONTHS TO JUNE 30, 2018</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">AND TO WAIVE OR SUBSTANTIALLY RELAX THE FINANCIAL COVENANTS OF ITS DEBT FACILITIES UNTIL DECEMBER 31, 2019</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ATHENS, GREECE, September 14, 2016</font> &#8211; Star Bulk Carriers Corp. (the &#8220;Company&#8221; or &#8220;Star Bulk&#8221;) (Nasdaq: SBLK), a global shipping company focusing on the transportation of dry bulk cargoes, today announced its unaudited financial and operating results for the second quarter and the first half of 2016.</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Financial Highlights</u></div>

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

<table style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" id="z0ccb10f1f5ce4b69aa38e64aa871b6ea" border="0" cellspacing="0" cellpadding="0">
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<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">(Expressed in thousands of U.S. dollars,</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">except for daily rates and per share data)</div>
</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" colspan="4" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Second quarter </div>

<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2016</div>
</td>
<td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" colspan="4" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Second quarter </div>

<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2015</div>
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<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="4" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Six months </div>

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

June 30, 2016</div>
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<td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" colspan="3" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Six months </div>

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

June 30, 2015</div>
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</tr>

<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total Revenues</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">52,649</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">55,817</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">98,953</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">101,318</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid" valign="bottom" nowrap="nowrap">&#160;</td>
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<tr>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net income/(loss)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(2)</sup></div>
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<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(32,908</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(65,021</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(81,696</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(105,197</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">EBITDA <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;LINE-HEIGHT: 1; FONT-SIZE: smaller; VERTICAL-ALIGN: text-top">(1)</sup></div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(521</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(33,338</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(14,610</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(44,902</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Adjusted EBITDA <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;LINE-HEIGHT: 1; FONT-SIZE: smaller; VERTICAL-ALIGN: text-top">(1)</sup></div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1,630</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">6,262</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(5,679</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">624</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Adjusted Net income / (loss)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(2)</sup></div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(30,196</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(22,319</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(68,491</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(52,135</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Earnings / (loss) per share basic and diluted</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(0.75</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(1.72</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(1.86</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(3.06</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Adjusted earnings / (loss) per share basic and diluted<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(2)</sup></div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(0.69</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(0.59</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(1.56</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(1.52</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Average Number of Vessels</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">71.0</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">69.7</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">71.9</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">67.5</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Voyage revenues</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52,605</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">55,749</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">98,862</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">101,182</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Time Charter Equivalent Rate (&#8220;TCE&#8221;)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(3)</sup></div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">6,463</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">8,616</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">5,715</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7,806</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Average daily OPEX per vessel</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">3,841</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">4,598</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">3,828</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">4,665</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Average daily OPEX per vessel (excluding pre-delivery expenses)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">3,796</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">4,311</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">3,692</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">4,372</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: justify">
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<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-STYLE: italic; WIDTH: 22.5pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="TEXT-ALIGN: justify; FONT-STYLE: italic; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">EBITDA and Adjusted EBITDA are non-GAAP measures, please see the table at the back of this release for a reconciliation&#160;to Net Cash Provided by / (Used in) Operating Activities, which is the most directly comparable financial measure calculated and presented in accordance with generally accepted accounting principles in the United States (&#8220;U.S. GAAP&#8221;). To derive Adjusted EBITDA we exclude non-cash gains / (losses) and non-recurring items.</div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div>
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<td style="WIDTH: 18pt"></td>
<td style="FONT-STYLE: italic; WIDTH: 22.5pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="TEXT-ALIGN: justify; FONT-STYLE: italic; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Adjusted Net income / (loss) is a non-GAAP measure, please see the table at the back of this release for a reconciliation to Net income / (loss).</div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div>
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<td style="WIDTH: 18pt"></td>
<td style="FONT-STYLE: italic; WIDTH: 22.5pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(3)</td>
<td style="TEXT-ALIGN: justify; FONT-STYLE: italic; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Daily Time Charter Equivalent Rate (&#8220;TCE&#8221;) is a non-GAAP measure, please see the table at the back of this release for a reconciliation to Voyage Revenues.</div>
</td>
</tr>
</table>
</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Petros Pappas, Chief Executive Officer of Star Bulk, commented:</font>&#160;<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#8220;We are pleased to announce today an agreement with our lenders including a waiver of approximately $223.9 million in debt principal repayments until June 30, 2018, as well as waivers or substantial relaxation of our financial covenants until the end of 2019.</font></div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">This agreement assists our Company to successfully weather current market conditions even if they were to last well into 2019, and&#160;positions us to take advantage of a subsequent market upturn. The agreement was based on the strong relationships we have developed over time with all 15 of our banking institutions and credit agencies and their faith in Star Bulk&#8217;s high quality management and low cost operations.</div>

<div><br>
</div>

<div style="text-align: justify; font-style: italic; font-family: 'Times New Roman'; font-size: 10pt;">In conjunction with the agreement with our lenders, we have agreed to complete an equity raise for $50.0 million of net proceeds, which we launched today. Our significant shareholders have indicated that they will support our efforts.</div>

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

<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">We released today our H1 and Q2 2016 financial results, reporting $53 million in revenues for the quarter ended June 30, 2016 and a positive $1.6 million adjusted EBITDA. Our average net daily TCE per vessel for Q2 2016 was $6,463 after deduction of $17.7 million in voyage expenses, with almost no legacy charters in place to benefit from.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Our average daily OPEX per vessel excluding pre-delivery expenses was $3,796 over the same period, reduced by 12% y-o-y. We believe that this reduction in our expenses is not at the expense of the quality of maintenance of our vessels, as evidenced by our vessels&#8217; Rightship ratings and Port State control inspection records&#8221;.</div>

<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>
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<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Recent Developments</u></div>

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

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">Financing Update</td>
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</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt">As of&#160;August 31, 2016 we have entered into Restructuring Letter Agreements (the &#8220;RLAs&#8221;) with all&#160;15 banks&#160;<font style="FONT-WEIGHT: normal">and export credit agencies</font>&#160;(the &#8220;Lenders&#8221;) providing our senior secured&#160;credit facilities, to waive 100% of the principal repayments&#160;for 25 months, for the period commencing June 1<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;LINE-HEIGHT: 1; FONT-SIZE: smaller; VERTICAL-ALIGN: text-top">st</sup> 2016 and ending June 30<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;LINE-HEIGHT: 1; FONT-SIZE: smaller; VERTICAL-ALIGN: text-top">th</sup> 2018 and waive or substantially relax financial covenants until December 31<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;LINE-HEIGHT: 1; FONT-SIZE: smaller; VERTICAL-ALIGN: text-top">st </sup>2019. The agreements are subject to certain conditions precedent, including an equity raise of not less than $50.0 million of net proceeds to be completed by September 30<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;LINE-HEIGHT: 1; FONT-SIZE: smaller; VERTICAL-ALIGN: text-top">th</sup> 2016.</div>

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<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">Equity Raise</td>
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</table>
</div>

<div style="margin-left: 18pt; text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">To comply with the conditions precedent of the RLAs, we launched today an equity raise for $51.5 million gross proceeds. Three of Star Bulk&#8217;s significant shareholders have indicated that they intend to purchase at least their pro rata share in such equity raise. This press release and any additional information provided in connection herewith do not constitute an offer to sell or a solicitation of an offer to buy any security or other financial instrument.</div>

<div style="MARGIN-LEFT: 18pt">&#160;</div>

<div style="TEXT-ALIGN: justify">
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<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Sale of </font><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Star Monisha</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold"> and </font><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Star Aline</font></td>
</tr>
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</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt">On July 26<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;LINE-HEIGHT: 1; FONT-SIZE: smaller; VERTICAL-ALIGN: text-top">th</sup>, 2016 and August 10<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;LINE-HEIGHT: 1; FONT-SIZE: smaller; VERTICAL-ALIGN: text-top">th</sup>, 2016 we entered into separate agreements with third parties to sell the vessels <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Monisha</font> and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Aline</font> respectively. The vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Monisha</font> was delivered to its new owners on August 17, 2016 and the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Aline</font> is expected to be delivered to its new owners until the end of September 2016.</div>

<div>&#160;</div>

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<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Grant of Equity Awards</div>
</td>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt">On September 12, 2016, our Board of Directors granted 345,000 restricted common shares (the &#8220;September 2016 Share Awards&#8221;) to certain of our directors and officers, as a bonus for the successful execution of the RLAs with our Lenders, subject to the successful completion of an equity offering satisfying the corresponding condition precedent of the RLAs.&#160; Of the common shares subject to the September 2016 Share Awards, 305,000 will vest on March 31, 2017, and the remaining 40,000 will vest on March 1, 2018.</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt">&#160;</div>
</div>

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<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">Other subsequent events</td>
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</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt">On July 7<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;LINE-HEIGHT: 1; FONT-SIZE: smaller; VERTICAL-ALIGN: text-top">th</sup> 2016, we announced that the Company has regained compliance with the Nasdaq Listing Rule 5450(a)(1) of the Nasdaq Global Select Market in relation to the minimum bid price of the Company&#8217;s stock, as this has been confirmed by a letter addressed to the Company dated as of July 6, 2016 from the NASDAQ Listing Qualifications Department.</div>

<div>&#160;</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Existing On the Water Fleet Profile (As of September 9, 2016)</u></div>

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<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessel Name</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessel Type</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Capacity</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(dwt.)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Built</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Date Delivered to </div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Star Bulk</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Goliath</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">209,537</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-15</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Gargantua</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">209,529</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">April-15</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">3</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Poseidon</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">209,475</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2016</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">February-16</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">4</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Maharaj</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">209,472</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2016</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-15</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">5</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Libra (1)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">207,765</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2016</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">June-16</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">6</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Marisa (1)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">207,709</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2016</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">March-16</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Leviathan</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">182,511</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2014</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">8</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Peloreus</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">182,496</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2014</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">9</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Martha</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">180,274</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2010</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">October-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">10</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Pauline</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">180,274</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2008</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">11</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Pantagruel</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">180,181</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2004</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">12</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Borealis</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">179,678</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2011</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September-11</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">13</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Polaris</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">179,600</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2011</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">November-11</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">14</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Angie</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">177,931</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2007</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">October-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">15</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Big Fish</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">177,662</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2004</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">16</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kymopolia</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">176,990</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">17</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Big Bang</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">174,109</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2007</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">18</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Aurora</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">171,199</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2000</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September-10</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">19</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Despoina</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">170,162</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1999</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">20</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Eleonora</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Capesize</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">164,218</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2001</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">21</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Amami</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Post Panamax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">98,681</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2011</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">22</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Madredeus</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Post Panamax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">98,681</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2011</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">23</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Sirius</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Post Panamax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">98,681</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2011</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">March-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">24</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Vega</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Post Panamax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">98,681</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2011</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">February-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">25</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Angelina</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,981</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">26</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Gwyneth</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,790</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">27</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Kamila</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,769</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2005</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">28</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Pendulum</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,619</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">29</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Maria</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,598</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2007</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">November-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">30</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Markella</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,594</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2007</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">31</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Danai</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,574</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">October-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">32</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Georgia</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,298</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">October-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">33</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Sophia</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,269</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2007</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">October-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">34</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Mariella</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,266</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">35</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Moira</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,257</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">November-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">36</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Nina</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,224</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">January-15</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">37</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Renee</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,221</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">38</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Nasia</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,220</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">August-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">39</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Laura</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,209</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">40</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Jennifer</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,209</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">April-15</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">41</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Helena</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">82,187</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">42</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Mercurial Virgo</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kamsarmax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">81,545</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2013</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">43</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Iris</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Panamax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">76,466</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2004</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">44</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Aline (2)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Panamax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">76,429</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2004</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">45</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Emily</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Panamax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">76,417</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2004</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">September-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">46</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Vanessa</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Panamax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">72,493</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1999</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">November-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">47</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Idee Fixe (1)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultramax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">63,458</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">March-15</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">48</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Roberta (1)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultramax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">63,426</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">March-15</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">49</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Laura (1)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultramax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">63,399</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">April-15</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">50</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kaley (1)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultramax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">63,283</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">June-15</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">51</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Kennadi</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultramax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">63,262</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2016</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">January-16</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Mackenzie</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultramax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">63,226</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2016</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">March-16</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">53</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Challenger</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultramax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61,462</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2012</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-13</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">54</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Fighter</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultramax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61,455</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2013</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-13</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">55</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Lutas</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultramax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61,347</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2016</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">January-16</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">56</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Honey Badger</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultramax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61,320</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">February-15</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">57</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Wolverine</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultramax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61,292</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">February-15</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">58</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Antares</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultramax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61,258</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">October-15</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">59</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Acquarius</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultramax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">60,916</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-15</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">60</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Pisces</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ultramax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">60,916</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2015</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">August-15</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">61</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Strange Attractor</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Supramax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">55,742</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2006</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-14</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">62</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Omicron</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Supramax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">53,489</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2005</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">April-08</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">63</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Gamma</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Supramax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">53,098</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2002</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">January-08</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">64</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Zeta</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Supramax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52,994</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2003</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">January-08</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">65</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Delta</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Supramax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52,434</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2000</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">January-08</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">66</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Theta</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Supramax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52,425</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2003</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-07</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">67</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Epsilon</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Supramax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52,402</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2001</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-07</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">68</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Cosmo</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Supramax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52,247</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2005</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">July-08</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">69</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 31%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Kappa</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Supramax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52,055</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2001</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">December-07</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 31%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total dwt:</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 2px solid">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">7,257,037</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 12%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1) Subject to a bareboat charter accounted for as a capital lease.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(2) Vessel agreed to be sold and due for delivery to its new owners.</div>

<div>&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Chartered-In Vessel (As of September 9, 2016)</u></div>

<div><br>
</div>

<table style="WIDTH: 90%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z4e4efff9635d41f799338b6d31643ce4" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 46%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessel Name</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 2%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 18%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: center; FONT-VARIANT: normal; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Type</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Capacity (dwt.)</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Built</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 46%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Astakos (ex - Maiden Voyage)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 18%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Supramax</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">58,722</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2012</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: middle" valign="bottom" colspan="2"></td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total dwt:&#160;</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">58,722</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Newbuilding Vessels (As of September 9, 2016)</u></div>

<div><br>
</div>

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z8215acd2b1fe44e39deb4c52174ad62b" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 35%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessel Name</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 13.14%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vessel Type</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Capacity</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(dwt.)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Shipyard</div>
</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Expected </div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Delivery</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;Date</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5.14%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 35%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">HN 1371 (tbn <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Virgo</font>)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;LINE-HEIGHT: 1; FONT-SIZE: smaller; VERTICAL-ALIGN: text-top">&#160;</sup>(1)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 13.14%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">208,000</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">SWS, China</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 13%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Jan-17</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5.14%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 35%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">HN 1360 (tbn <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Ariadne</font>) (1)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 13.14%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">208,000</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">SWS, China</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 13%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Feb-17</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5.14%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">3</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 35%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">HN 1342 (tbn <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Gemini</font>)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 13.14%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">208,000</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">SWS, China</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 13%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Jul-17</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5.14%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">4</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 35%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">HN 1361 (tbn <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Magnanimus</font>) (1)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 13.14%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">208,000</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">SWS, China</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 13%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Jan-18</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #cceeff; WIDTH: 5.14%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">5</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 35%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">HN 1343 (tbn <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Leo</font>) </div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 13.14%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Newcastlemax</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">208,000</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">SWS, China</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 13%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Jan-18</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff; WIDTH: 5.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 35%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 13.14%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total dwt:</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1,040,000</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 25%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 13%; VERTICAL-ALIGN: middle">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zd2addc21f1384ecfb90842c191e72245" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-STYLE: italic; WIDTH: 22.5pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="TEXT-ALIGN: left; FONT-STYLE: italic; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Subject to a bareboat charter that will be accounted for as a capital lease.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Second Quarter 2016 and 2015 Results (*)</u></div>

<div><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(*)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Amounts relating to variations in period &#8211; on &#8211; period comparisons shown in this section are derived from the actual numbers in our books and records. In addition, all share and per share amounts disclosed in this report give effect to our company&#8217;s 1 to 5 reverse stock split effective June 20, 2016, retroactively, for all periods presented. We refer to the presentation of all share and per share amounts as the &#8220;reverse split&#8208;adjusted basis&#8221;.</font></div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">For the second quarter of 2016, total voyage revenues were $52.6 million, compared to $55.7 million for the second quarter of 2015 and the TCE for the corresponding periods was $6,463 and $8,616, respectively. This decrease is primarily driven by the lower charterhire rates prevailing in the dry bulk market during the second quarter of 2016, compared to the second quarter of 2015.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">For the second quarter of 2016, operating loss was $20.9 million, which includes a non-cash impairment loss of $0.3 million and a net loss on sale of vessels of $0.2 million compared to operating loss of $56.8 million for the second quarter of 2015, due primarily to a non-cash impairment loss of $27.7 million and a loss on sale of vessels of $11.3 million recognized during the second quarter of 2015, as described in more detail below.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Net loss for the second quarter of 2016 was $32.9 million, or $0.75 loss per basic and diluted share, calculated based on 43,938,755 shares, which is the weighted average number of basic and diluted shares. Net loss for the second quarter of 2015 was $65.0 million, or $1.72 loss per basic and diluted share, calculated based on 37,899,114 shares, which is the weighted average number of basic and diluted shares.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Net loss for the second quarter of 2016 mainly included the following non-cash items:</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zdc69964b372c43bdbd8c7056c287e29c" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Amortization of fair value of above-market acquired time charters of $0.05 million, or $0.001 per basic and diluted share, associated with the time charter attached to one acquired vessel (<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Madredeus</font>). This above-market time charter is being amortized over the charter party&#8217;s duration as a decrease to voyage revenues;</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z77f2aea950fa40a4bf71ab2d1b75e037" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Expenses of $1.7 million, or $0.04 per basic and diluted share, relating to stock based compensation recognized in connection with the shares that were granted to our directors and employees;</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z748adbd457924acebaafea25386215dc" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Impairment loss of $0.3 million, or $0.01 per basic and diluted share, mainly relating to the write-off of capitalized items for two newbuilding vessel contracts cancelled during the first quarter 2016;</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zf1242123988b482e87633ca849bef8c9" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">An aggregate net loss on sale of vessels of $0.2 million, or $0.004 per basic and diluted share, resulting from the sale of certain vessels (<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Indomitable, Obelix, Star Taurus</font> and<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"> Star Michele</font>), completed during the second quarter of 2016;</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z71e60d9bc5374446973062921d81272e" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Unrealized gain on derivative instruments of $0.09 million, or $0.002 per basic and diluted share; and</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z476067d543d245e3bc84a4d8e4b3dd2b" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Write-off of unamortized deferred finance charges of $0.6 million or $0.01 per basic and diluted share relating to: (i) the mandatory prepayment an outstanding loan amount due to the sale of the corresponding mortgaged vessel and (ii) the cancellation of a loan commitment resulting from the sale of one newbuilding vessel upon its delivery from the shipyard.</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Excluding all non-cash items, net loss for the second quarter of 2016 would have been $30.2 million, or $0.69 loss, per basic and diluted share, </font>based on 43,938,755 shares, which is the weighted average number of basic and diluted shares.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Net loss for the second quarter of 2015 mainly included the following non-cash items:</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zc342956b28d345a1b5caed518ab5d73e" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Amortization of fair value of above-market acquired time charters of $3.2 million, or $0.08 per basic and diluted share, associated with time charters attached to seven acquired vessels. These above-market time charters are amortized over the duration of each charter as a decrease to voyage revenues;</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Expenses of $0.5 million, or $0.01 per basic and diluted share, relating to stock based compensation expense recognized in connection with shares that were granted to our directors and employees;</td>
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<div style="TEXT-ALIGN: justify">&#160;</div>

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Loss on sale of vessels of $11.3 million, or $0.3 per basic and diluted share, relating to the sale of vessels <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Big</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Mega</font> and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Christianna</font>, which were delivered to their new owners during the second quarter of 2015;</td>
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<div style="TEXT-ALIGN: justify">&#160;</div>

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Impairment loss of $27.7 million or $0.73 per basic and diluted share, in connection with (i) the agreement to sell one of our newbuilding vessels upon its delivery in 2016, (ii) the agreement to sell the&#160; <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Maiden Voyage</font>, and (iii) the cancellation of one of our newbuilding vessels. The impairment loss includes an $18.2 million write-off of the fair value adjustment recognized for these vessels in July 2014 in connection with the Oceanbulk Merger;</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Unrealized gain on derivative instruments of $0.5 million or $0.01 per basic and diluted share; and</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Write-off of unamortized deferred finance charges of $0.5 million or $0.01 per basic and diluted share relating to: (i) the mandatory prepayment of outstanding amounts under several loan facilities due to the sale of the corresponding mortgaged vessels; and (ii) the full repayment of certain of our outstanding loan facilities.</td>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Excluding all non-cash items, net loss for the second quarter of 2015 would have been $22.3 million, or $0.59 loss per basic and diluted share, </font>based on 37,899,114 shares, which is the weighted average number of basic and diluted shares.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Adjusted EBITDA for the second quarter of 2016 and 2015, excluding the above items, was $1.6 million and $6.3 million, respectively. A reconciliation of EBITDA and adjusted EBITDA to net cash provided by cash flows from operating activities is set forth below.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">During the second quarter of 2016 and 2015, we owned and operated an average of 71.0 and 69.7 vessels, respectively, which earned an average Time Charter Equivalent, or (&#8220;TCE&#8221;) of $6,463 and $8,616 per day, respectively and the total voyage revenues for the same periods were $52.6 million and $55.7 million, respectively. We refer you to footnote 8 under the heading &#8220;Summary of Selected Data&#8221; set forth below for information regarding our calculation of TCE rates.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">For the second quarter of 2016, voyage expenses were $17.7 million, compared to $12.9 million for the second quarter of 2015. The increase in voyage expenses was due to the increased level of spot market activity, which is associated with higher voyage expenses than time charters.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">For the second quarter of 2016, charter hire expense was $0.9 million, representing the expense for the lease back of the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Astakos</font> (<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">ex-Maiden Voyage</font>), which we sold in September 2015.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">For the second quarter of 2016 and 2015, vessel operating expenses were $24.5 million and $29.2 million, respectively. The decrease in operating expenses, despite the slightly higher average number of vessels in the second quarter of 2016 compared to the second quarter of 2015 is attributable to our management&#8217;s focus on cost efficiencies, the addition to our fleet of newly built vessels with lower maintenance requirements and synergies and economies of scale from operating a large fleet.<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold"> As a result, our average daily operating expenses per vessel for the second quarter of 2016 were $3,841, compared to $4,598 during the second quarter of 2015, representing a 16.5% reduction as a result of synergies and economies of scale from operating a large fleet. </font>In addition, vessel operating expenses for the second quarter of 2016 and 2015, include $0.3 million and $1.8 million of pre-delivery and pre-joining expenses, respectively, incurred in connection with the delivery of the new vessels during each period. Pre-joining and pre-delivery expenses relate to the expenses for the crew manning requirements during vessel sea trials, as well as the initial supply of stores for the vessel upon its delivery. <font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Excluding </font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">these amounts, our average daily operating expenses per vessel for the second quarter of 2016 would have been $3,796 versus $4,311 during the second quarter of 2015.</font></div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Dry docking expenses for the second quarter of 2016 and 2015 were $0.7 million and $4.1 million, respectively. During the second quarter of 2016 only one vessel underwent its periodic dry docking survey compared to 2015, when ten of our vessels underwent periodic dry docking surveys.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Depreciation expense slightly increased to $20.3 million for the second quarter of 2016, compared to $20.2 million for the second quarter of 2015, mainly due to the slightly higher average number of vessels in the second quarter of 2016 compared to the second quarter of 2015.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Management fees for the second quarter of 2016 and 2015 were $1.9 million and $2.1 million, respectively. During the second quarter of 2016 and 2015, management fees included a daily fee of $295 per vessel to Ship Procurement Services S.A., an unaffiliated third-party management company. In addition, management fees for the second quarter of 2015 included a monthly fee of $17,500 to Maryville Maritime Inc.&#160; for the management of three of the Excel Vessels, (<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Martha, Star Pauline </font>and<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"> Star Despoina), </font>until the expiration of their then existing time charter agreements (the last expired in November 2015).</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">General and administrative expenses during the second quarter of 2016 amounted to $7.1 million, compared to $5.6 million general and administrative expenses during the second quarter of 2015. This variation was mainly due to higher stock based compensation expenses of $1.1 million in the second quarter of 2016 as compared to same period in 2015. Excluding the above mentioned stock-based compensation expenses, general and administrative expenses increased, mainly because of the increase in our average number of employees by approximately 5% during the second quarter of 2016 as compared to the same period in 2015.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">During the second quarter 2016, we entered into Forward Freight Agreements (&#8220;FFAs&#8221;) and closed our position, which resulted in recording a cash gain of $0.3 million. During the second quarter 2015 we had not entered into any FFAs.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">During the second quarter of 2016, we recorded an impairment loss of an aggregate of $0.3 million in connection with the write-off of capitalized expenses for two newbuilding contracts that were terminated in February 2016. During the same period in 2015, we recorded an impairment loss of $27.7 million in connection with an agreement to sell one of our newbuilding vessels upon its delivery in 2016, an agreement to sell the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Maiden Voyage</font>&#160;and the cancellation of one of our newbuilding vessels. An amount of $18.2 million of this impairment loss relates to the fair value adjustment recognized for these vessels in July 2014 in connection with the Oceanbulk Merger.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">During the second quarter of 2016, we delivered to their new owners the vessels <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Indomitable, Obelix, Star Taurus</font> and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Michele</font>, recognizing an aggregate loss of $0.2 million. Total proceeds from these sales were $96.7 million. During the second quarter of 2015, we sold the vessels <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Big</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Mega</font> and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Christianna</font> and recognized an aggregate loss, in connection with the sales, of $11.3 million. Total proceeds from these sales were $18.9 million.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Interest and finance costs for the second quarter of 2016 and 2015 were $10.2 million and $7.4 million, respectively. The increase is attributable to: (i) the higher average balance of our outstanding indebtedness of $1,014.4 million for the second quarter of 2016, including $50.0 million under the 8.00% Senior Notes and our capital lease obligations, compared to $958.8 million for the second quarter of 2015 and (ii) the increase in weighted average interest rate to 3.9% in the second quarter of 2016 compared to 3.2% in the second quarter of 2015, driven by the increase in LIBOR over the same period. These amounts of interest and finance costs for the second quarter of 2016 and 2015 were set off by interest capitalized from general debt of $0.8 million and $2.9 million. We recognized these amounts in connection with the payments made for our newbuilding vessels. In addition, for the second quarter of 2016, interest and finance costs included $0.3 million representing realized loss on interest rate swaps (for four of our swaps accounted as cash flow hedges), whereas for the second quarter of 2015, the corresponding amount was $0.4 million.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">During the second quarter of 2016, we recorded $0.6 million of loss on debt extinguishment in connection with the non-cash write-off of unamortized deferred finance charges resulting from the mandatory prepayment in full of outstanding loan balances following the sale of certain vessels in the second quarter of 2016, as mentioned above, as well as from the cancellation of the committed loan amount resulting from the sale of one newbuilding vessel upon its delivery from the shipyard. During the second quarter of 2015, we recorded $0.5 million of loss on debt extinguishment in connection with the non-cash write off of unamortized deferred finance charges due to mandatory prepayments in full of certain of our loan facilities.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">During the second quarter of 2016 and 2015, we recorded a loss on derivative financial instruments of $1.1 million and $0.7 million, respectively. During the corresponding periods, five of our swaps outstanding were not designated as accounting hedges and their realized and unrealized gain/(loss) were recorded under gain/(loss) on derivative financial instruments.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>First Half 2016 and 2015 Results (*)</u></div>

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<td style="TEXT-ALIGN: justify; FONT-STYLE: italic; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Amounts relating to variations in period &#8211; on &#8211; period comparisons shown in this section are derived from the actual numbers in our books and records. In addition, all share and per share amounts disclosed in this report are presented on a reverse split-adjusted basis.</td>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">For the first half of 2016, total voyage revenues were $98.9 million, compared to $101.2 million for the first half of 2015. This decrease is primarily driven by the lower charterhire rates prevailing in the dry bulk market during the first half of 2016, compared to the first half of 2015, and was partially offset by the increase in the average number of vessels from 67.5 during the first half of 2015 to 71.9 during the first half of 2016. The TCE for the corresponding periods was $5,715 and $7,806, respectively.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">For the first half of 2016, operating loss was $55.7 million, which includes a non-cash impairment loss of $6.7 million and a net loss on sale of vessels of $0.02 million compared to operating loss of $90.7 million for the first half of 2015, due&#160;in part to a non-cash impairment loss of $28.8 million and a net loss on sale of vessels of $13.4 recognized during the first half of 2015, as described in more detail below.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Net loss for the first half of 2016 was $81.7 million, or $1.86 loss per basic and diluted share, calculated based on 43,880,713 shares, which is the weighted average number of basic and diluted shares. Net loss for the first half of 2015 was $105.2 million, or $3.06 loss per basic and diluted share, based on 34,347,332 shares, which is the weighted average number of basic and diluted shares.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Net loss for the first half of 2016 mainly included the following non-cash items:</div>

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Amortization of fair value of above-market acquired time charters of $0.3 million, or $0.01 per basic and diluted share, associated with time charters attached to two acquired vessels (<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Amami</font> and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Madredeus</font>). These above-market time charters are amortized over the respective charter parties&#8217; duration as a decrease to voyage revenues;</td>
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<div style="TEXT-ALIGN: justify">&#160;</div>

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Expenses of $2.3 million, or $0.05 per basic and diluted share, relating to the stock based compensation recognized in connection with the shares that were granted to our directors and employees;</td>
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<div style="TEXT-ALIGN: justify">&#160;</div>

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Impairment loss of $6.7 million, or $0.15 per basic and diluted share mainly relating to the sale of one of our operating vessels (<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Michele</font>);</td>
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<div style="TEXT-ALIGN: justify">&#160;</div>

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Unrealized losses on derivative instruments of $2.3 million or $0.05 per basic and diluted share; and</td>
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<div style="TEXT-ALIGN: justify">&#160;</div>

<div style="TEXT-ALIGN: justify">
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Write-off of unamortized deferred finance charges of $1.8 million or $0.04 per basic and diluted share relating to: (i) the mandatory prepayment of outstanding amounts under several loans due to the sale of the corresponding mortgaged vessels, (ii) the cancellation of certain loan commitments resulting from (a) the sale of certain newbuilding vessels upon their delivery from the shipyards and (b) the termination of two newbuilding contracts agreed in February 2016.</td>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Excluding all non-cash items, net loss for the second half of 2016 would have been $68.5 million, or $1.56 loss, per basic and diluted share, </font>based on 43,880,713 shares, which is the weighted average number of basic and diluted shares.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Net loss for the first half of 2015 mainly included the following non-cash items:</div>

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Amortization of fair value of above-market acquired time charters of $7.1 million, or $0.21 per basic and diluted share, associated with time charters attached to seven acquired vessels. These above-market time charters are amortized over the duration of each charter as a decrease to voyage revenues;</td>
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<div style="TEXT-ALIGN: justify">&#160;</div>

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Expenses of $1.4 million, or $0.04 per basic and diluted share, relating to stock based compensation expense recognized in connection with the shares that were granted to our directors and employees;</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Impairment loss of $28.8 million, or $0.84 per basic and diluted share, relating to: (i) the sale of the <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Monika</font>; (ii) an agreement to sell one of our newbuilding vessels upon its delivery in 2016; (iii) an agreement to sell the <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Maiden Voyage</font>; and (iv)the cancellation of one of our newbuilding vessels. The impairment loss includes $18.2 million, which is attributed to the write-off of the fair value adjustment recognized for these vessels in July 2014 in connection with the Oceanbulk Merger.</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Write off of above market acquired time charter of $2.1 million, or $0.06 per basic and diluted share, relating to the early redelivery of the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Big</font>, which took place in connection with the vessel&#8217;s sale and delivery to its new owners on June 4, 2015;</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Loss on sale of vessels of $13.4 million, or $0.39 per basic and diluted share, relating to the sale of vessels <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Kim</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Julia</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Tatianna</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Rodon</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Big</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Mega</font> and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Christianna</font>;</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Unrealized gain on derivative instruments of $0.5 million or $0.01 per basic and diluted share;</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Write-off of unamortized deferred finance charges of $1.0 million or $0.03 per basic and diluted share relating to: (i) the mandatory prepayment of outstanding amounts under several loan facilities due to the sale of the corresponding mortgaged vessels; and (ii) the full repayment of certain of our outstanding loan facilities; and</td>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Excluding all </font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">non-cash items, net loss for the first half of 2015 would have been $52.1 million, or $1.52 loss per basic and diluted share, </font>based on 34,347,332 shares, which is the weighted average number of basic and diluted shares.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Adjusted EBITDA for the first half of 2016 and 2015, excluding the above items, was ($5.7) million and $0.6 million, respectively. A reconciliation of EBITDA and adjusted EBITDA to net cash provided by/used in operating activities is set forth below.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">During the first half of 2016 and 2015, we owned and operated an average of 71.9 and 67.5 vessels, respectively, earning an average TCE rate of $5,715 and $7,806 per day, respectively and the total voyage revenues for the same periods were $98.9 million and $101.2 million, respectively. We refer you to footnote 8 under the heading &#8220;Summary of Selected Data&#8221; set forth below for information regarding our calculation of TCE rates.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">For the first half of 2016, voyage expenses were $37.3 million, compared to $30.6 million for the first half of 2015. The increase in voyage expenses was due to the increase in the average number of vessels in the first half of 2016, compared to the first half of 2015, as well as the increased level of spot market activity, which is associated with higher voyage expenses than time charters.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">For the first half of 2016, charter hire expense was $1.9 million, representing the expense for the lease back of the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Astakos</font> (<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">ex-Maiden Voyage</font>), which we sold in September 2015.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">For the first half of 2016 and 2015, vessel operating expenses totalled $49.4 million and $57.0 million, respectively. The decrease in operating expenses despite the higher average number of vessels in the first half of 2016 compared to the first half of 2015 is attributable to our management&#8217;s focus on cost efficiencies, the addition to our fleet of newly built vessels with lower maintenance requirements and further realization of synergies and economies of scale from operating a large fleet.<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold"> Accordingly, our average daily operating expenses per vessel for the first half of 2016 were $3,828, compared to $4,665 during the first half of 2015, representing a 17.9% reduction. </font>In addition, vessel operating expenses for the first half of 2016 and 2015, respectively, included $1.7 million and $3.6 million of pre-delivery and pre-joining expenses, incurred in connection with the delivery of the new vessels in our fleet during each period. 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. <font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Excluding these amounts, our average daily operating expenses per vessel for the first half of 2016 and 2015 would have been $3,692 and $4,372, respectively.</font></div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Dry docking expenses for the first half of 2016 and 2015 were $1.6 million and $6.9 million, respectively. During the first half of 2016, three vessels completed their respective periodic dry docking surveys, two of which started in December 2015. During the first half of 2015, 14 of our vessels underwent their periodic dry docking surveys.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Depreciation expense increased to $40.8 million for the first half of 2016, compared to $38.5 million for the first half of 2015. The increase was mainly driven by the higher average number of vessels in the first half of 2016 compared to the first half of 2015.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Management fees for the first half of 2016 and 2015 were $3.9 million and $4.1 million, respectively. During the first half of 2016 and 2015, management fees included a daily fee of $295 per vessel to Ship Procurement Services S.A. In addition, management fees for the first half of 2015 included a monthly fee of $17,500 to Maryville Maritime Inc. for the management of three of the Excel Vessels, (<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Martha, Star Pauline </font>and<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"> Star Despoina), </font>until the expiration of their then existing time charter agreements (the last expired in November 2015).</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">During the first half of 2016, we had $13.3 million general and administrative expenses, compared to $11.2 million during the first half of 2015. During the first half of 2016, we incurred costs of $0.3 million relating to professional advisory services provided to us. These services were completed within the first half 2016 and such costs are not part of our ordinary course of business and will not burden our general and administrative expenses in the following quarters. Stock-based compensation expenses were $0.9 million higher in the second half of 2016 as compared to same period in 2015. Excluding the above mentioned non-recurring costs and stock-based compensation expenses, general and administrative expenses increased, because of the increase in our average number of employees during the first half of 2016 as compared to the same period in 2015. Average daily net cash general and administrative expenses per vessel excluding non-recurring costs would amount to $1,128 for the first half of 2016.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">During the first half 2016, we entered into FFAs and recorded a cash gain of $0.3 million. During the first half of 2015 we had not entered into any FFAs.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">During the first half of 2016, we recorded an impairment loss of an aggregate of $6.7 million in connection with the sale of one operating vessel, which was delivered to its new owners in May 2016 and the termination of two newbuilding contracts agreed to in February 2016. During the first half of 2015, we recorded an impairment loss of $28.8 million, relating to: (i) the sale of vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Monika</font>; (ii) the agreement to sell one of our newbuilding vessels upon its delivery to us in 2016; (iii) the agreement to sell the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Maiden Voyage</font>; and (iv) the cancellation of one of our newbuilding vessels. The impairment loss recognized in 2015 includes $18.2 million, which is attributed to the write-off of the fair value adjustment recognized for these vessels in July 2014 in connection with the Oceanbulk Merger.</div>

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

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">During the first half of 2016, we recognized an aggregate loss on sale of $0.02 million due to the delivery to their new owners of the vessels <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Behemoth, Bruno Marks, Megalodon, Tsu Ebisu, Star Aries, Magnum Opus, Deep Blue</font>,<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"> Jenmark</font>,<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"> Indomitable, Obelix, Star Taurus</font> and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Michele</font>. Total proceeds from these sales were $362.9 million. During the first half of 2015, we recognized an aggregate loss on a sale of vessel of $13.4 million in connection with the sale of the vessels <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Kim</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Julia</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Tatianna</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Rodon</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Big</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Mega</font> and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Christianna. </font>Total sale proceeds from these sales were $36.1 million, of which $1.1 million was received in 2014 as an advance for the sale of the vessel <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Kim</font>.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Interest and finance costs for the first half of 2016 and 2015 were $19.7 million and $13.9 million, respectively. The increase is attributable to: (i) the higher average balance of our outstanding indebtedness of $1,017.2 million for the first half of 2016, including $50.0 million under the 8.00% Senior Notes and our capital lease obligations, compared to $910.0 million for the first half of 2015, and (ii) the increase in weighted average interest rate to 3.9% in the first half of 2016 compared to 3.3% in the first half of 2015, driven by the increase in LIBOR over the same period. These amounts of interest and finance costs for the first half of 2016 and 2015 were set-off by interest capitalized from general debt of $2.6 million and $6.2 million. We recognized these amounts in connection with the payments made for our newbuilding vessels. In addition, for the first half of 2016, interest and finance costs included $0.7 million realized loss on hedging interest rate swaps compared to $1.5 million for the first half of 2015.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">During the first half of 2016, we recorded $1.8 million of loss on debt extinguishment in connection with the non-cash write-off of unamortized deferred finance charges resulting from the mandatory prepayment in full of outstanding loan balances following the sale of certain vessels in the first half of 2016, as mentioned above, as well as from the cancellation of certain committed loan amounts resulting from (a) the sale of certain newbuilding vessels upon their delivery from the shipyards and (b) the termination of two newbuilding contracts agreed in February 2016. During the first half of 2015, we recorded $1.0 million of loss on debt extinguishment, in connection with the non-cash write-off of unamortized deferred finance charges due to mandatory prepayments in full of certain of our loan facilities.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">During the first half of 2016 and 2015, we recorded a loss on derivative financial instruments of $4.7 million and $0.7 million, respectively. As of January 1, 2015, all of our interest rate swaps had been designated as cash flow hedges. Our hedge effectiveness test for the second quarter of 2015 indicated that the hedging relationship of certain of our interest rate swaps no longer qualified for special hedge accounting. We therefore de-designated these swaps as accounting cash flow hedges as of April 1, 2015. Accordingly, realized and unrealized gain/(loss) from these swaps from April 1, 2015 onwards have been recorded in our statement of operations under Gain/(Loss) on derivative financial instruments. During the period that these swaps qualified for hedge accounting, their realized and unrealized gain/(loss) were recorded under interest and finance cost and equity, to the extent effective, respectively.</div>

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

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net cash used in operating activities for the first half of 2016 and 2015 was $36.0 million and $9.5 million, respectively.</font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>The increase is due to: i) a working capital outflow of $9.6 million mainly attributable to payments made towards our suppliers, for the first half of 2016 compared to a working capital inflow of $2.3 million for the first half of 2015, ii) higher interest expense and iii) lower Adjusted EBITDA.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net cash used in investing activities for the first half of 2016 and 2015 was $24.6 million and $278.5 million,</font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"> respectively.</font></div>

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<div style="TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">For the first half of 2016, net cash used in investing activities consisted of:</div>

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">$388.7 million paid for advances and other capitalized expenses for our newbuilding and newly delivered vessels,</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">$142.6 million of proceeds from the sale of certain operating vessels (<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Tsu Ebisu, Magnum Opus</font>,<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"> Deep Blue, Indomitable, Obelix </font>and <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Michele)</font>,</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">$220.3 million of proceeds from the sale of certain newbuilding vessels, which were sold upon their delivery from the shipyard,</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">$1.1 million of hull and m<font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">achinery insurance proceeds, and</font></td>
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<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">a net decrease of $0.09 million in restricted cash required under our loan facilities.</td>
</tr>
</table>
</div>

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

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

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

<div style="TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">
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<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">$190.9 million paid for advances and other capitalized expenses for our newbuilding vessels;</td>
</tr>
</table>
</div>

<div style="BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: justify">&#160;</div>

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="ze9c6eb09dfa640f58f130de2225a65e2" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$87.2 million paid for the four newbuilding vessels delivered (</font><font style="BACKGROUND-COLOR: #ffffff; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Roberta</font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">, </font><font style="BACKGROUND-COLOR: #ffffff; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Idee Fixe, Kaley </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">and </font><font style="BACKGROUND-COLOR: #ffffff; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Laura</font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">); which are subject to bareboat charters </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">that we are accounting for as capital leases,</font></td>
</tr>
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<div style="TEXT-ALIGN: justify">&#160;</div>

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z4dedad8d4e6842979a5e434b91849e03" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$39.5 million paid for the acquisition of the last </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">six Excel Vessels,</font></td>
</tr>
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<div style="TEXT-ALIGN: justify">&#160;</div>
</div>

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

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

<div style="BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z48a067edbdfd45a88e1280483e627198" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$38.8 million of proceeds from the sale of the vessels </font><font style="BACKGROUND-COLOR: #ffffff; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Kim</font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">, </font><font style="BACKGROUND-COLOR: #ffffff; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Julia</font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">, </font><font style="BACKGROUND-COLOR: #ffffff; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Tatianna,</font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font><font style="BACKGROUND-COLOR: #ffffff; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Rodon, Star Big, Star Monika, Star Mega and Star Christianna,</font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">and</font></td>
</tr>
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<div style="TEXT-ALIGN: justify">&#160;</div>

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z7e4f51e36006422cabeaeb43063dd6e7" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">a net decrease of $0.2 million in restricted cash </font>required under our loan facilities<font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">.</font></td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net cash used in financing activities for the first half of 2016 was $7.0 million and net cash provided by financing activities for the first half of 2015 was $487.2 million</font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">, respectively.</font></div>

<div><br>
</div>

<div style="BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">For the first half of 2016, net cash used in financing activities consisted of:</div>

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

<div style="BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z3cbdbe9114c146479e21dd4e85e3f1af" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">proceeds from bank loans for an aggregate of $65.4 million for the financing of delivery installments for four of our newbuilding vessels delivered during the first half of 2016, and</td>
</tr>
</table>
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<div style="TEXT-ALIGN: justify">&#160;</div>

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="za238f3f640364e668a180f98eac82976" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">an increase in capital lease obligations of $86.4 million, relating to two newbuilding vessels delivered to us in March 2016 and June 2016, respectively, under bareboat charters, and</td>
</tr>
</table>
</div>

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

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

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

<div style="BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: justify">
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<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">an aggregate of $158.7 million paid in connection with the regular amortization of outstanding vessel financings, capital lease installments and the mandatory prepayment of several loan facilities due to the sale of corresponding mortgaged vessels, as mentioned above.</td>
</tr>
</table>
</div>

<div>&#160;</div>

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

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

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

<div style="BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z8f087a8bc4ff45fdadec1c4691099f91" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">proceeds from </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">loan facilities for an aggregate of $183.5 million for the financing of: </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(i) delivery installments for four of our newbuilding vessels </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">that were delivered during the period</font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">; (ii) cash consideration for the acquisition of the last </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">six Excel Vessels</font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">; and </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(iii) the repayment in full of the Excel Vessel Bridge Facility;</font></td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z0199aeb53fac4cbca9b4624b00aeff00" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">capital lease obligations of $82.7 million, relating to four newbuildings delivered during the period under bareboat charters;</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
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<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$418.8 million of proceeds from two public offerings of our common shares, </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">which were completed in January 2015 and May 2015, net of underwriting discounts and commissions </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">of $6.2 million and less offering expenses of $1.0 million;</font></td>
</tr>
</table>
</div>

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

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

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

<div style="TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z9cf417b9588d4625a593d376a6a447aa" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">financing fees paid of $8.5 million; and</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z69b77beae13a40deb1f7a037c0a94b00" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; FONT-FAMILY: Symbol, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#183;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">an aggregate of $188.2 million paid in connection with </font><font style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">the regular amortization of outstanding vessel financings, capital lease installments and prepayments in full&#160; of certain of our loan facilities.</font></td>
</tr>
</table>
</div>

<div>&#160;</div>

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</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><u>Summary of Selected Data</u></div>

<div><br>
</div>

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<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">(TCE rates expressed in U.S. dollars)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Second quarter</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2016</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Second quarter</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2015</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Average number of vessels (1)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">71.0</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">69.7</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Number of vessels (2)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">70</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">69</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Average age of operational fleet (in years) (3)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7.5</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7.9</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Ownership days (4)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">6,367</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">6,347</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Available days (5)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">6,227</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">6,012</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Voyage days for fleet (6)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">5,404</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">5,341</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Fleet utilization (7)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">86.8</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">%</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">88.8</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">%</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Average per-day TCE rate (8)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">6,463</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">8,616</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Average per-day OPEX per vessel (9)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">3,841</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">4,598</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Average per-day OPEX per vessel (excl. pre-delivery expenses)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">3,796</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">4,311</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Average per-day Net Cash G&amp;A expenses per vessel (10)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,153</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,102</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<table style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" id="zd28356bc07b24c09a8cb91a68670ecbc" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Six months ended</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Six months ended </div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2015</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Average number of vessels (1)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">71.9</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">67.5</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Number of vessels (2)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">70</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">69</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Average age of operational fleet (in years) (3)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7.5</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7.9</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Ownership days (4)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">12,896</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">12,210</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Available days (5)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">12,438</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">11,771</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Voyage days for fleet (6)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">10,819</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">9,943</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Fleet utilization (7)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">87.0</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">%</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">84.5</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">%</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Average per day TCE rate (8)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">5,715</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7,806</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Average daily OPEX per vessel (9)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">3,828</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">4,665</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Average daily OPEX per vessel (excl. pre-delivery expenses)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">3,692</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">4,372</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Average daily Net Cash G&amp;A expenses per vessel (10)</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,150</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,107</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="za3036187f5d148ff83a67a9598448f21" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-STYLE: italic; WIDTH: 21.25pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="TEXT-ALIGN: justify; FONT-STYLE: italic; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">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 each operating vessel was a part of our operating fleet during the period divided by the number of calendar days in that period.</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z33e53a9a354849aebede40c3c2c8eb14" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-STYLE: italic; WIDTH: 21.25pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="TEXT-ALIGN: justify; FONT-STYLE: italic; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">As of the last day of the periods reported.</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z7a505a3c7d874d919298aa79f8f74478" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-STYLE: italic; WIDTH: 21.25pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(3)</td>
<td style="TEXT-ALIGN: justify; FONT-STYLE: italic; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Average age of operational fleet is calculated as of June 30, 2016 and 2015, respectively.</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z43ca2c72432d4d28b1e948e6c34757c9" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-STYLE: italic; WIDTH: 21.25pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(4)</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Ownership days are the total calendar days each vessel in the fleet was owned by us</font>&#160;<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">for the relevant period.</font></td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zb7c75de9379141159a29707462655790" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-STYLE: italic; WIDTH: 21.25pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(5)</td>
<td style="TEXT-ALIGN: justify; FONT-STYLE: italic; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Available days for the fleet are the ownership and charter-in days after subtracting off-hire days for major repairs, dry docking or special or intermediate surveys and lay-up days, if any.</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z32a9b99c3dbb46378ab42145fc6e68c4" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-STYLE: italic; WIDTH: 21.25pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(6)</td>
<td style="TEXT-ALIGN: justify; FONT-STYLE: italic; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Voyage days are the total days the vessels were in our possession or chartered-in for the relevant period after subtracting off-hire days incurred for any reason (including off-hire for major repairs, dry docking, special or intermediate surveys or lay-up days, if any).</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z5b68fb301c2f4df0884393c4f0b3928a" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-STYLE: italic; WIDTH: 21.25pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(7)</td>
<td style="TEXT-ALIGN: justify; FONT-STYLE: italic; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">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.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;LINE-HEIGHT: 1; FONT-SIZE: smaller; VERTICAL-ALIGN: text-top">&#160;</sup></td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zc6052a928ad44197bf381b7279133682" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-STYLE: italic; WIDTH: 21.25pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(8)</td>
<td style="TEXT-ALIGN: justify; FONT-STYLE: italic; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Represents the weighted average daily TCE rates of our entire 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/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&#8217;s performance despite changes in the mix of charter types (i.e., voyage charters, time charters and bareboat charters) under its vessels may be employed between the periods. We included TCE revenues, a non-GAAP measure, as it provides additional meaningful information in conjunction with voyage revenues, the most directly comparable GAAP measure, and it assists our management in making decisions regarding the deployment and use of our operating vessels and in evaluating our financial performance.</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z7964943bbb40472f800db22ad84e7932" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-STYLE: italic; WIDTH: 21.25pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(9)</td>
<td style="TEXT-ALIGN: justify; FONT-STYLE: italic; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Average daily OPEX per vessel is calculated by dividing vessel operating expenses by ownership days.</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z323f1477cc704299ae595970ffb7f551" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-STYLE: italic; WIDTH: 21.25pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(10)</td>
<td style="TEXT-ALIGN: justify; FONT-STYLE: italic; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Average daily Net Cash G&amp;A expenses per vessel is calculated by (1) deducting the Management fee Income from, and (2) adding the Management fee expense (excluding termination charges in relation to vessels sold) to, the General and Administrative expenses (net of stock based compensation expense) and (3) then dividing with the ownership days.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: -21.6pt; MARGIN-LEFT: 21.6pt">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Unaudited Consolidated Statement of Operations</u></div>

<div><br>
</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zc7757a67931f45f5957825271b5f7b7a" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">(Expressed in thousands of U.S. dollars except for share and per share data)</div>
</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; VERTICAL-ALIGN: middle" colspan="2" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Second quarter </div>

<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2016</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Second</div>

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

<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ended June 30, </div>

<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2016</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom" colspan="2" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Six months </div>

<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ended June 30, </div>

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

<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; VERTICAL-ALIGN: bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Revenues:</div>
</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Voyage revenues</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52,605</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">55,749</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">98,862</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">101,182</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Management fee income</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">44</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">68</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">91</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">136</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total revenues</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">52,649</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">55,817</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">98,953</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">101,318</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Expenses:</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Voyage expenses</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(17,722</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(12,891</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(37,284</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(30,637</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Charter-in hire expense</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(922</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,918</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Vessel operating expenses</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(24,459</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(29,181</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(49,364</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(56,964</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Dry docking expenses</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(734</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(4,079</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,583</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(6,945</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Depreciation</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(20,312</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(20,235</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(40,847</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(38,519</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Management fees</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,913</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(2,074</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(3,911</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(4,063</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">General and administrative expenses</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(7,124</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(5,590</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(13,298</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(11,153</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Gain/(Loss) on derivative financial instruments</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">283</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">283</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Impairment loss</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(339</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(27,749</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(6,694</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(28,829</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Write-off of unamortized fair value of above market acquired time charter</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(2,114</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Other operational loss</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(109</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(109</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Other operational gain</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">550</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">50</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">590</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Gain/(Loss) on sale of vessel</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(173</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(11,336</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(21</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(13,389</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Operating income/(loss)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(20,875</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(56,768</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(55,743</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(90,705</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Interest and finance costs</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(10,222</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(7,439</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(19,694</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(13,871</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Interest and other income/(loss)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(113</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">290</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">154</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">828</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Gain/(Loss) on derivative financial instruments</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,088</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(688</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(4,681</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(688</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Loss on debt extinguishment</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(624</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(450</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,801</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(974</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total other expenses, net</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(12,047</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(8,287</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(26,022</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(14,705</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income/(Loss) before equity in investee</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(32,922</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(65,055</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(81,765</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(105,410</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Equity in income of investee</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">14</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">34</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">69</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">213</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net income/(loss)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(32,908</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(65,021</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(81,696</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(105,197</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Earnings/(loss) per share, basic</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(0.75</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1.72</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1.86</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(3.06</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Earnings/(loss) per share, diluted</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(0.75</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1.72</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1.86</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(3.06</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Weighted average number of shares outstanding, basic</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">43,938,755</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">37,899,114</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">43,880,713</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">34,347,332</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Weighted average number of shares outstanding, diluted</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">43,938,755</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">37,899,114</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">43,880,713</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">34,347,332</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div>&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Unaudited Consolidated Condensed Balance Sheets</u></div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 5.4pt; FONT-SIZE: 10pt">(Expressed in thousands of U.S. dollars)</div>

<div><br>
</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z7b09e29b48134fce980e37aeadab8ac3" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ASSETS</div>
</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">December 31, 2015</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Cash and cash equivalents</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">140,555</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">208,056</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Restricted cash</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">5,122</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">3,769</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Other current assets</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">47,862</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">40,233</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TOTAL CURRENT ASSETS</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">193,539</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">252,058</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Advances for vessels under construction and acquisition of vessels and other assets</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">55,892</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">127,910</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Vessels and other fixed assets, net</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,802,507</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,757,552</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Restricted cash</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">8,785</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">10,228</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Other non-current assets</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2,517</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,098</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TOTAL ASSETS</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2,063,240</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2,148,846</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Current portion of long-term debt</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">127,141</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Lease commitments current</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">9,137</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">4,490</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Other current liabilities</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">29,284</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">35,318</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TOTAL CURRENT LIABILITIES</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">38,421</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">166,949</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Long-term debt (net of unamortized deferred finance fees of $9,992 and $14,360, respectively)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">761,597</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">720,237</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">8% 2019 Senior Notes (net of unamortized deferred finance fees of $1,461 and $1,677, respectively)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">48,539</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">48,323</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Lease commitments non-current</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">153,596</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">75,030</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Other non-current liabilities</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">5,403</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2,949</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TOTAL LIABILITIES</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1,007,556</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1,013,488</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">STOCKHOLDERS&#8217; EQUITY</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,055,684</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,135,358</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TOTAL LIABILITIES AND STOCKHOLDERS&#8217; EQUITY</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2,063,240</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2,148,846</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Unaudited Cash Flow Data</u></div>

<div><br>
</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z90c4815ec4e64b4dbc0ec2c252eb360d" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">(Expressed in thousands of U.S. dollars)</div>
</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Six months ended </div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">June 30, 2016</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Six months ended </div>

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

<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Net cash provided by / (used in) operating activities</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(35,972</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(9,499</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Net cash provided by / (used in) investing activities</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(24,568</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(278,524</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Net cash provided by / (used in) financing activities</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(6,961</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">487,226</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div>&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>EBITDA and adjusted EBITDA Reconciliation</u></div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">We consider EBITDA to represent net income before interest, income taxes, depreciation and amortization. EBITDA does not represent and should not be considered as an alternative to net income or cash flow from operations, as determined by United States generally accepted accounting principles, or U.S. GAAP, and our calculation of EBITDA may not be comparable to that reported by other companies. EBITDA is included herein because it is a basis upon which we assess our liquidity position, because it is a measure used by our lenders as a measure of our compliance with certain loan covenants and because we believe that it presents useful information to investors regarding our ability to service and/or incur indebtedness.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">We excluded non-cash gains/losses such as those related to sale of vessels, stock-based compensation expense, the write off of the unamortized fair value of above-market acquired time charters, impairment losses and the equity in income of investee, to derive adjusted EBITDA. We excluded the items described above when deriving adjusted EBITDA because we believe that these items do not reflect the ongoing operational cash inflows and outflows of our fleet.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The following table reconciles net cash provided by operating activities to EBITDA and adjusted EBITDA:</div>

<div><br>
</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z48ba30a4a1e24c1aa86364d9d939a35a" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">(Expressed in thousands of U.S. dollars)</div>
</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Second </div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">quarter 2016</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Second </div>

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

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

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2016</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Six months </div>

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

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

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Net cash provided by/(used in) operating activities</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(9,439</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(905</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(35,972</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(9,499</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Net decrease / (increase)&#160; in current assets</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,062</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2,814</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">4,710</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(2,631</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Net increase / (decrease) in operating&#160; liabilities, excluding current portion of long term debt</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,408</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(2,769</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">4,728</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">281</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Impairment loss</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(339</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(27,749</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(6,694</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(28,829</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Loss on debt extinguishment</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(624</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(450</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,801</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(974</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Stock &#8211; based compensation</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,653</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(549</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(2,285</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,407</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Amortization of deferred finance charges</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(789</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(693</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,561</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,199</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Non-cash effects of derivatives</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">89</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(22</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(1,805</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(59</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Total other expenses, net</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">12,047</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">8,287</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">26,022</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">14,705</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Gain/(Loss) on sale of vessel</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(173</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(11,336</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(21</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(13,389</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Write-off of unamortized fair value of above market acquired time charter</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(2,114</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Equity in income of investee</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">14</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">34</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">69</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">213</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">EBITDA</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(521</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(33,338</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(14,610</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(44,902</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Less:</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Equity in income of investee</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(14</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(34</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(69</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(213</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Plus:</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Stock-based compensation</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,653</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">549</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2,285</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,407</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Impairment loss</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">339</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">27,749</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">6,694</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">28,829</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Loss on sale of vessel</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">173</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">11,336</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">21</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">13,389</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Write-off of unamortized fair value of above market acquired time charter</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2,114</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Adjusted EBITDA</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1,630</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">6,262</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(5,679</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">624</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<u>Net income / (loss) and Adjusted Net income / (loss) Reconciliation</u>

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="z4222bdd6ecab4aa3a6806bdab64eac2d" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">(Expressed in thousands of U.S. dollars)</div>
</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Second </div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">quarter 2016</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Second </div>

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

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

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2016</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: middle" valign="bottom" colspan="2" nowrap="nowrap">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Six months </div>

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

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

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net income / (loss)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(32,908</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(65,021</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(81,696</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(105,197</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">Amortization of fair value of above market acquired time charter agreements</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">47</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">3,161</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">254</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7,071</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">Write-off of unamortized fair value of above market acquired time charter</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap"></td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2,114</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">Stock-based compensation</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,653</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">549</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2,285</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,407</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">Unrealized gain/loss on derivative instruments</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(91</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(509</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">2,256</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(509</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">Loss on sale of vessel</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">173</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">11,336</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">21</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">13,389</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">Vessel impairment loss</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">339</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">27,749</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">6,694</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">28,829</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">Amortization of deferred gain</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(19</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">)&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(37</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">Loss on debt extinguishment</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">624</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">450</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">1,801</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">974</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">Equity in income of investee</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(14</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">)&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(34</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">)&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(69</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">)&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(213</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">)&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle; FONT-WEIGHT: bold" valign="bottom">Adjusted Net Income / (loss)</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(30,196</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(22,319</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(68,491</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(52,135</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Weighted average number of shares outstanding, basic and diluted</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">43,938,755</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">37,899,114</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">43,880,713</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">34,347.332</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Adjusted Basic and Diluted Earnings / (Loss) Per Share</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(0.<font style="FONT-WEIGHT: bold">69</font></div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; WHITE-SPACE: nowrap; VERTICAL-ALIGN: middle; FONT-WEIGHT: bold">)</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(0.59</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; WHITE-SPACE: nowrap; VERTICAL-ALIGN: middle"><font style="FONT-WEIGHT: bold">)</font>&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(1.56</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; WHITE-SPACE: nowrap; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(1.52</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; WHITE-SPACE: nowrap; VERTICAL-ALIGN: middle">)&#160;</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Voyage Revenues to Daily Time Charter Equivalent (&#8220;TCE&#8221;) Reconciliation</u></div>

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

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt" id="zf0f5f58d52df45638f2f50cc9d4c18a2" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; FONT-STYLE: italic; VERTICAL-ALIGN: middle">(In thousands of U.S. dollars, except as<br>
 otherwise stated)</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WHITE-SPACE: nowrap; VERTICAL-ALIGN: middle" colspan="2">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Second <br>
 quarter 2016</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WHITE-SPACE: nowrap; VERTICAL-ALIGN: middle" colspan="2">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Second<br>
 quarter 2015</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; VERTICAL-ALIGN: top" colspan="2" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Six months</div>

<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ended June 30,</div>

<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2016</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; VERTICAL-ALIGN: top" colspan="2" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Six months</div>

<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ended June 30,</div>

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

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Voyage revenues</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">52,605</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">55,749</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">98,862</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">101,182</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Less:</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Voyage expenses</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(17,722</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(12,891</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(37,284</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(30,637</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">)</div>
</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Amortization of fair value of below/above market acquired time charter agreements</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">47</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">3,161</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">254</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">7,071</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Time Charter equivalent revenues</div>
</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">34,930</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">46,019</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">61,832</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">77,616</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Voyage days for fleet</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">5,404</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">5,341</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">10,819</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">9,943</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Daily Time Charter Equivalent Rate (&#8220;TCE&#8221;)</div>
</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">6,463</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">8,616</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">5,715</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">7,806</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

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

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">About Star Bulk</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk&#8217;s vessels transport major bulks, which include iron ore, coal and grain and minor bulks which include bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and maintains executive offices in Athens, Greece. Its common stock trades on the Nasdaq Global Select Market under the symbol &#8220;SBLK&#8221;. On a fully delivered basis, Star Bulk will have a fleet of 73 vessels, with an aggregate capacity of 8.2 million dwt, consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax and Supramax vessels with carrying capacities between 52,055 dwt and 209,537 dwt. Our fleet currently includes&#160;69 operating vessels and 5 newbuilding vessels under construction at a shipyard in China. All of the newbuilding vessels are expected to be delivered during 2017 and 2018. Additionally, the Company has one chartered-in Supramax vessel, under a time charter expiring in September 2017.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Forward-Looking Statements</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Matters discussed in this press release may constitute forward-looking statements. 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.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words &#8220;believe,&#8221; &#8220;anticipate,&#8221; &#8220;intends,&#8221; &#8220;estimate,&#8221; &#8220;forecast,&#8221; &#8220;project,&#8221; &#8220;plan,&#8221; &#8220;potential,&#8221; &#8220;may,&#8221; &#8220;should,&#8221; &#8220;expect,&#8221; &#8220;pending&#8221; and similar expressions identify forward-looking statements.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, examination by the Company&#8217;s management of historical operating trends, data contained in its records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Company&#8217;s control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.</div>

<div>&#160;</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">In addition to these important factors, other important factors that, in the Company&#8217;s view, could cause actual results to differ materially from those discussed in the forward-looking statements include general dry bulk shipping market conditions, including fluctuations in charterhire rates and vessel values, the strength of world economies the stability of Europe and the Euro, fluctuations in interest rates and foreign exchange rates, changes in demand in the dry bulk shipping industry, including the market for our vessels, changes in our operating expenses, including bunker prices, dry docking and insurance costs, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, the availability of financing and refinancing, our ability to meet requirements for additional capital and financing to complete our newbuilding program and grow our business,&#160;the impact of the level of our indebtedness and the restrictions in our debt agreements,&#160;vessel breakdowns and instances of off&#8208;hire, risks associated with vessel construction, potential exposure or loss from investment in derivative instruments, potential conflicts of interest involving our Chief Executive Officer, his family and other members of our senior management, and our ability to complete the restructuring transactions with our various lenders.&#160; Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and the Company disclaims any intention or obligation to update any forward&#8208;looking statements as a result of developments occurring after the date of this communication.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Contacts</div>

<div><br>
</div>

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

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt">Simos Spyrou, Christos Begleris</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt">Co &#8208; Chief Financial Officers</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt">Star Bulk Carriers Corp.</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt">c/o Star Bulk Management Inc.</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt">40 Ag. Konstantinou Av.</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt">Maroussi 15124</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt">Athens, Greece</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt">Email: info@starbulk.com</div>

<div style="TEXT-ALIGN: left; FONT-VARIANT: normal; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><u>www.starbulk.com</u></div>

<div><br>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Investor Relations / Financial Media:</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt">Nicolas Bornozis</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt">President</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt">Capital Link, Inc.</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt">230 Park Avenue, Suite 1536</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt">New York, NY 10169</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt">Tel. (212) 661&#8208;7566</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 13.5pt; FONT-SIZE: 10pt">E&#8208;mail<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">: </font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><u>starbulk@capitallink.com</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 13.7pt; FONT-SIZE: 10pt">www.capitallink.com</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 13.7pt; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 13.7pt; FONT-SIZE: 10pt">&#160;</div>

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  <us-gaap:SignificantAccountingPoliciesTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Significant accounting policies and recent accounting pronouncements:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;A summary of the Company's significant accounting policies is included in Note 2 to the Company's consolidated financial statements included in the 2015 20-F Annual Report. There have been no changes to the Company's significant accounting policies in the six-month period ended June 30, 2016, except for the following:&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Consolidation (Topic 810) - Amendments to the Consolidation Analysis:&lt;/b&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. The Company believes that the implementation of this update has no material impact on its consolidated financial statements.&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Financing Costs:&lt;/b&gt; The Company has adopted Accounting Standards Update No. 2015-03, &amp;#147;Simplifying the Presentation of Debt Issuance Costs,&amp;#148; which 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, rather than as deferred finance charges with total assets, effective January 1, 2016. The guidance provides also that the new classification should be applied retrospectively to prior periods presented in the financial statements. As such, the outstanding balance of deferred finance charges as of December 31, 2015 of $16,037 (previously presented as &amp;#147;Deferred finance charges, net&amp;#148;) and June 30, 2016 of $11,453, are reflected against long term debt and 8.00% 2019 Notes in the accompanying balance sheets as further analyzed in Note 8. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Recent Accounting pronouncements: &lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In March 2016, the FASB issued ASU 2016-05, &amp;#147;Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships,&amp;#148; which clarifies that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under Topic 815 does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria (including those in paragraphs 815-20-35-14 through 35-18) continue to be satisfied. For public companies, the amendments in this Update are effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. For all other entities, the amendments in this Update are effective for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods within fiscal years beginning after December 15, 2018. An entity may apply the amendments in this Update on a prospective basis or on a modified retrospective basis, as defined in the Update. 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;text-indent:29.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:16.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In March&amp;#160;2016, the FASB issued ASU 2016-07, &amp;#147;Investments - Equity Method and Joint Ventures (Topic 323)&amp;#148; (&amp;#147;ASU 2016-07&amp;#148;), which simplifies the accounting for equity method investments by removing the requirement that an entity retroactively adopt the equity method of accounting if an investment qualifies for use of the equity method as a result of an increase in the level of ownership or degree of influence. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor's previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting. ASU 2016-07 is effective for fiscal years beginning after December&amp;#160;15, 2016, and interim periods within those years, and must be applied prospectively. Early adoption 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;text-indent:29.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;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;In March&amp;#160;2016, the FASB issued ASU 2016-09, &amp;#147;Compensation-Stock Compensation - Improvements to Employee Share-Based Payment Accounting (Topic 718)&amp;#148; (&amp;#147;ASU 2016-09&amp;#148;), which involves several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Under the new standard, all excess income tax benefits and deficiencies are to be recognized as income tax expense or benefit in the income statement and the tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur. An entity should also recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period. Excess tax benefits should be classified along with other income tax cash flows as an operating activity. With regard to forfeitures, the entity may make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. ASU 2016-09 is effective for fiscal years beginning after December&amp;#160;15, 2016 including interim periods within that reporting period. Early adoption 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;text-indent:29.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;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;In May and April 2016, the FASB issued two Updates with respect to Topic 606: ASU 2016-10, &amp;#147;Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing&amp;#148; and ASU 2016-12, &amp;#147;Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients.&amp;#148; The amendments in these Updates do not change the core principle of the guidance in Topic 606, which is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services by applying the following steps: (1) Identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. The amendments in Update 2016-10 simply clarify the following two aspects of Topic 606: (1) identifying performance obligations and (2) licensing implementation guidance. The amendments in Update 2016-12 similarly affect only certain narrow aspects of Topic 606; namely, (1) &amp;#147;Assessing the Collectibility Criterion in Paragraph 606-10-25-1(e) and Accounting for Contracts That Do Not Meet the Criteria for Step 1 (Applying Paragraph 606-10-25-7),&amp;#148; (2) &amp;#147;Presentation of Sales Taxes and Other Similar Taxes Collected from Customers,&amp;#148; (3) &amp;#147;Noncash Consideration,&amp;#148; (4) &amp;#147;Contract Modifications at Transition,&amp;#148; (5) &amp;#147;Completed Contracts at Transition,&amp;#148; and (6) &amp;#160;&amp;#147;Technical Correction.&amp;#148; The amendments in these Updates also affect the guidance in Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606), which is not yet effective. The effective date and transition requirements for the amendments in these Updates are the same as the effective date and transition requirements in Topic 606 (and any other Topic amended by Update 2014-09). Accounting Standards Update 2015-14, &amp;#147;Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,&amp;#148; has deferred the effective date of Update 2014-09 for public business entities to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted. Presently, the Company is assessing what effect the adoption of these ASUs will have on its financial statements and accompanying notes.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
  <us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Recent Accounting pronouncements: &lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In March 2016, the FASB issued ASU 2016-05, &amp;#147;Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships,&amp;#148; which clarifies that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under Topic 815 does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria (including those in paragraphs 815-20-35-14 through 35-18) continue to be satisfied. For public companies, the amendments in this Update are effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. For all other entities, the amendments in this Update are effective for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods within fiscal years beginning after December 15, 2018. An entity may apply the amendments in this Update on a prospective basis or on a modified retrospective basis, as defined in the Update. 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;text-indent:29.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:16.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In March&amp;#160;2016, the FASB issued ASU 2016-07, &amp;#147;Investments - Equity Method and Joint Ventures (Topic 323)&amp;#148; (&amp;#147;ASU 2016-07&amp;#148;), which simplifies the accounting for equity method investments by removing the requirement that an entity retroactively adopt the equity method of accounting if an investment qualifies for use of the equity method as a result of an increase in the level of ownership or degree of influence. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor's previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting. ASU 2016-07 is effective for fiscal years beginning after December&amp;#160;15, 2016, and interim periods within those years, and must be applied prospectively. Early adoption 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;text-indent:29.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;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;In March&amp;#160;2016, the FASB issued ASU 2016-09, &amp;#147;Compensation-Stock Compensation - Improvements to Employee Share-Based Payment Accounting (Topic 718)&amp;#148; (&amp;#147;ASU 2016-09&amp;#148;), which involves several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Under the new standard, all excess income tax benefits and deficiencies are to be recognized as income tax expense or benefit in the income statement and the tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur. An entity should also recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period. Excess tax benefits should be classified along with other income tax cash flows as an operating activity. With regard to forfeitures, the entity may make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. ASU 2016-09 is effective for fiscal years beginning after December&amp;#160;15, 2016 including interim periods within that reporting period. Early adoption 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;text-indent:29.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;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;In May and April 2016, the FASB issued two Updates with respect to Topic 606: ASU 2016-10, &amp;#147;Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing&amp;#148; and ASU 2016-12, &amp;#147;Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients.&amp;#148; The amendments in these Updates do not change the core principle of the guidance in Topic 606, which is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services by applying the following steps: (1) Identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. The amendments in Update 2016-10 simply clarify the following two aspects of Topic 606: (1) identifying performance obligations and (2) licensing implementation guidance. The amendments in Update 2016-12 similarly affect only certain narrow aspects of Topic 606; namely, (1) &amp;#147;Assessing the Collectibility Criterion in Paragraph 606-10-25-1(e) and Accounting for Contracts That Do Not Meet the Criteria for Step 1 (Applying Paragraph 606-10-25-7),&amp;#148; (2) &amp;#147;Presentation of Sales Taxes and Other Similar Taxes Collected from Customers,&amp;#148; (3) &amp;#147;Noncash Consideration,&amp;#148; (4) &amp;#147;Contract Modifications at Transition,&amp;#148; (5) &amp;#147;Completed Contracts at Transition,&amp;#148; and (6) &amp;#160;&amp;#147;Technical Correction.&amp;#148; The amendments in these Updates also affect the guidance in Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606), which is not yet effective. The effective date and transition requirements for the amendments in these Updates are the same as the effective date and transition requirements in Topic 606 (and any other Topic amended by Update 2014-09). Accounting Standards Update 2015-14, &amp;#147;Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,&amp;#148; has deferred the effective date of Update 2014-09 for public business entities to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted. Presently, the Company is assessing what effect the adoption of these ASUs will have on its financial statements and accompanying notes.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock>
  <us-gaap:DebtPolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Financing Costs:&lt;/b&gt; The Company has adopted Accounting Standards Update No. 2015-03, &amp;#147;Simplifying the Presentation of Debt Issuance Costs,&amp;#148; which 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, rather than as deferred finance charges with total assets, effective January 1, 2016. The guidance provides also that the new classification should be applied retrospectively to prior periods presented in the financial statements. As such, the outstanding balance of deferred finance charges as of December 31, 2015 of $16,037 (previously presented as &amp;#147;Deferred finance charges, net&amp;#148;) and June 30, 2016 of $11,453, are reflected against long term debt and 8.00% 2019 Notes in the accompanying balance sheets as further analyzed in Note 8. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:DebtPolicyTextBlock>
  <us-gaap:ConsolidationPolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Consolidation (Topic 810) - Amendments to the Consolidation Analysis:&lt;/b&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. The Company believes that the implementation of this update has no material impact on its consolidated financial statements.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:ConsolidationPolicyTextBlock>
  <us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Basis of Presentation and General Information:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Star Bulk Carriers Corp. (&amp;#147;Star Bulk&amp;#148;) is a shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk was incorporated in the Marshall Islands on December&amp;#160;13, 2006 and maintains executive offices in Athens, Greece.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Star Bulk's common shares started trading on the NASDAQ Global Select Market on December&amp;#160;3, 2007, under the ticker symbol &amp;#147;SBLK.&amp;#148; The accompanying unaudited interim condensed consolidated financial statements include the accounts of Star Bulk and its subsidiaries, which are hereinafter collectively referred to as the &amp;#147;Company,&amp;#148; and have been prepared in accordance with accounting principles generally accepted in the United States of America (&amp;#147;U.S. GAAP&amp;#148;) and applicable rules and regulations of the U.S. Securities and Exchange Commission (the &amp;#147;SEC&amp;#148;) for interim financial information. Accordingly, they do not include all the information and notes required by U.S. GAAP for annual financial statements.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;These unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all normal recurring adjustments considered necessary for a fair presentation of the Company's financial position, results of operations and cash flows for the periods presented. Operating results for the six-month period ended June 30, 2016 are not necessarily indicative of the results that might be expected for the fiscal year ending December&amp;#160;31, 2016.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The unaudited interim condensed consolidated financial statements presented in this report should be read in conjunction with the Company's Annual Report on Form 20-F for the year ended December 31, 2015 (the &amp;#147;2015 20-F Annual Report&amp;#148;). The balance sheet as of December 31, 2015 has been derived from the audited consolidated financial statements as of that date, but, pursuant to the requirements for interim financial information, does not include all of the information and footnotes required by U.S. GAAP for complete financial statements.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Effective June 20, 2016, the Company effected a 5-for-1 reverse stock split on its issued and outstanding common stock (Note 9). All share and per share amounts disclosed in the accompanying financial statements give effect to this reverse stock split retroactively, for all periods presented. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Unless otherwise defined herein, capitalized words and expressions used herein shall have the same meanings ascribed to them in the Company's 2015 20-F Annual Report.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Subsidiaries, Owned Vessels and Newbuilding Contracts&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Below is the list of Star Bulk's subsidiaries, all of which are wholly owned, as of June 30, 2016:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Vessels in operation at June 30, 2016:&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&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:181px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:79px;"&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:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Date&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"&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:39px;"&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-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;height:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Wholly Owned Subsidiaries&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Vessel Name&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;DWT&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Delivered to Star Bulk&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Year Built&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1 &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:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Ennea LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Poseidon&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;209,475&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February 26,&amp;#160;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2 &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:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Sea Diamond LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Goliath &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July 15, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;3 &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:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Gargantua &lt;/i&gt;2&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;209,529&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;April 2, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;4 &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:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Maharaj &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July 15, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;5 &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:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Seeker LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Libra&lt;/i&gt; &lt;i&gt;(1) &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;207,765&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;June 6, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;6 &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:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Marisa &amp;#160;(1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;207,709&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March 11 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;7 &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:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Leviathan &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;182,511&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;19, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;8 &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:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Peloreus &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;182,496&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;22, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;9 &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:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Pauline &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;180,274&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;10 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Martha &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;180,274&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 31, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2010&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;11 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Pantagruel &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;180,181&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2004&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;12 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Borealis LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Borealis&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;179,678&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;9, 2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;13 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Polaris LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Polaris&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;179,600&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November&amp;#160;14, 2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;14 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident V LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Angie &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;177,931&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;15 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Big Fish &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;177,662&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2004&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;16 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Kymopolia &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;176,990&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;17 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Big Bang &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;174,109&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;18 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Aurora LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Aurora&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;171,199&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;8, 2010&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;19 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Despoina &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;170,162&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1999&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;20 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident VII LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Eleonora &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;164,218&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 3, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;21 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident VI LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Monisha (Note 15(c)) &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;164,218&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February 2, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;22 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Amami &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;98,681&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;23 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Madredeus &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;98,681&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;24 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Sirius LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Sirius&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;98,681&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March&amp;#160;7, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;25 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Vega LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Vega&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;98,681&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February&amp;#160;13, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;26 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Alta I LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Angelina &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,981&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 5, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;27 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Alta II LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Gwyneth &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,790&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 5, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;28 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident&amp;#160;I LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Kamila &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,769&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;3, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2005&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;29 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Pendulum &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,619&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;30 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XIX LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Maria &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,598&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November 5, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;31 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XII LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Markella &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,594&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;32 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident IX LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Danai &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,574&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 21, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;33 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XI LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Georgia &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,298&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 14, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;34 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident VIII LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Sophia &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,269&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 31, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;35 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XVI LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Mariella &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,266&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;19, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;36 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XIV LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Moira &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,257&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November 19, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;37 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XVIII LLC &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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Nina &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,224&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 5, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;38 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident X LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Renee &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,221&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 18, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;39 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident&amp;#160;II LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Nasia &amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,220&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;August&amp;#160;29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;40 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XIII LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Laura &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,209&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 8, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;41 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XV LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Jennifer &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,209&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;April 15, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;42 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XVII LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Helena &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,187&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;43 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Mercurial Virgo &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;81,545&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;44 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident&amp;#160;III LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Iris &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;76,466&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;8, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2004&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;45 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident IV LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Aline (Note 15 (c)) &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;76,429&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;4, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2004&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;46 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XX LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Emily &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;76,417&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;16, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2004&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;47 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXV Ltd.&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Vanessa &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;72,493&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November 7, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1999&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;48 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Idee Fixe (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63,458&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March 25, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;49 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Roberta (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63,426&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March 31, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;50 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Laura (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63,399&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;April 7, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;51 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Kaley (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63,283&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;June 26, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Kennadi &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63,262&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 8, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;53 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Mackenzie&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63,226&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March 2, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;54 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star 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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Challenger&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61,462&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December&amp;#160;12, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2012&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;55 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star 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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Fighter&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61,455&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December&amp;#160;30, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;56 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star 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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Lutas&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61,347&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 6, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;57 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Honey Badger &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February 27, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;58 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Wolverine &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February 27, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;59 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Axe I LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Antares&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 9, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;60 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star 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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Aquarius&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July 22, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star 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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Pisces&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;August 7, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;62 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Strange Attractor &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;55,742&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Omicron LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Omicron&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;53,489&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;April&amp;#160;17, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2005&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;64 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Gamma LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Gamma&lt;/i&gt; &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;53,098&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January&amp;#160;4, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2002&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;65 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Zeta LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Zeta&lt;/i&gt; &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,994&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January&amp;#160;2, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2003&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;66 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Delta LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Delta &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,434&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January&amp;#160;2, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;67 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Theta LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Theta&lt;/i&gt; &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,425&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December&amp;#160;6, 2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2003&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;68 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Epsilon LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Epsilon &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,402&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December&amp;#160;3, 2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;69 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Cosmo LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Cosmo&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,247&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;1, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2005&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;70 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Kappa LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Kappa &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,055&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December&amp;#160;14, 2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:12px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&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:Times New Roman;font-size:10.7px;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;7,421,255&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"&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:39px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Vessels subject to a capital bareboat lease (Note 5)&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Newbuildings at June 30, 2016:&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:27px;height:11px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:212px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Wholly Owned Subsidiaries&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:199px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Newbuildings Name&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Type&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;DWT&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Expected Delivery&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:27px;height:11px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Date&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:27px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:212px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Breezer LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:199px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1371 (tbn &lt;i&gt;Star Virgo&lt;/i&gt;) (1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Jan-17&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:27px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:212px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:199px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1360 (tbn &lt;i&gt;Star Ariadne&lt;/i&gt;) (1) &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Feb-17&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:27px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;3 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:212px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star 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:199px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1342 (tbn &lt;i&gt;Star Gemini&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Jul-17&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:27px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;4 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:212px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:199px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1361 (tbn &lt;i&gt;Star Magnanimus&lt;/i&gt;) (1) &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Jan-18&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:27px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;5 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:212px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star 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:199px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1343 (tbn &lt;i&gt;Star Leo&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Jan-18&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:27px;height:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:212px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:199px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:103px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:57px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;1,040,000&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:6.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Vessels subject to a capital bareboat lease (Note 6)&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Non-vessel owning subsidiaries at June 30, 2016:&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:24px;height:11px;"&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:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Wholly Owned Subsidiaries&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&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:260px;"&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:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1 &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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Bulk Management Inc.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;23 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Mega LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2 &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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Starbulk S.A.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;24 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Big LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;3 &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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Bulk Manning LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;25 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Gravity Shipping LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;4 &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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Bulk Shipmanagement Company (Cyprus) Limited&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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;26 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;White Sand Shipping LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;5 &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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Optima Shipping Limited&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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;27 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXVI LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;6 &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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Omas LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;28 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Premier Voyage LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;7 &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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Synergy LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;29 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXII LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;8 &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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Oceanbulk Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;30 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Dioriga Shipping Co.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;9 &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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Oceanbulk Carriers LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;31 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;KMSRX Holdings LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;10 &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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;International Holdings LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;32 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;L.A. Cape Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;11 &amp;#160;&amp;#160;&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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Unity Holding LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;33 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Cape Confidence Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;12 &amp;#160;&amp;#160;&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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Bulk (USA) LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;34 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Cape Runner Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;13 &amp;#160;&amp;#160;&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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXI LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;35 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Olympia Shiptrade LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;14 &amp;#160;&amp;#160;&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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXIV LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;36 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Victory Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;15 &amp;#160;&amp;#160;&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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXVII LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;37 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Cape I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;16 &amp;#160;&amp;#160;&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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXXI LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;38 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Oday Marine LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;17 &amp;#160;&amp;#160;&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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXIX LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;39 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Searay Maritime LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;18 &amp;#160;&amp;#160;&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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXVIII LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;40 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXIII LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;19 &amp;#160;&amp;#160;&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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Lamda LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;41 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Positive Shipping Company&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;20 &amp;#160;&amp;#160;&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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Alpha LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;42 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;OOCape1 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:24px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;21 &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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Beta LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;43 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXX 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:24px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;22 &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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Ypsilon LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;44 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Cape&amp;#160;II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The vessel listed below was under commercial and technical management by a Star Bulk's wholly owned subsidiary, Starbulk S.A., during the six-month periods ended June 30, 2015 and 2016, in exchange for a fixed management fee of $0.75 per day and $0.5 per day, respectively.&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="3" style=" border:solid #000000 0.0px;width:302px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessel Owning Company&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" rowspan="3" style=" border:solid #000000 0.0px;width:144px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:57px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;DWT&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="3" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Year Built&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" colspan="3" style=" border:solid #000000 0.0px;width:147px;height:11px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:42px;"&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" colspan="3" style=" border:solid #000000 0.0px;width:147px;height:11px;"&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:302px;height:11px;"&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;Serenity Maritime Inc.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:144px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Serenity I&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;53,688&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="3" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The vessel listed below was chartered in as part of the sale and leaseback transaction entered into by the Company with respect to the vessel &lt;i&gt;Maiden Voyage&lt;/i&gt;, which is currently named &lt;i&gt;Astakos&lt;/i&gt; (Note 5).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:248px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessel Name&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:157px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Type&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;DWT&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Year Built&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:248px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Astakos&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:157px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Supramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;58,722&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;2012&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock>
  <us-gaap:ScheduleOfSaleLeasebackTransactionsTextBlock contextRef="FYp0YTD">&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:248px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessel Name&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:157px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Type&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;DWT&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Year Built&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:248px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Astakos&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:157px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Supramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;58,722&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;2012&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/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="middle" rowspan="3" style=" border:solid #000000 0.0px;width:302px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessel Owning Company&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" rowspan="3" style=" border:solid #000000 0.0px;width:144px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:57px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;DWT&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:43px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Year Built&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" colspan="3" style=" border:solid #000000 0.0px;width:147px;height:11px;"&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" colspan="3" style=" border:solid #000000 0.0px;width:147px;height:11px;"&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:302px;height:11px;"&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;Serenity Maritime Inc.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:144px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Serenity I&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;53,688&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</sblk:ListVesselsUnderCommercialTechnicalManagementTableTextBlock>
  <sblk:ListNonVesselOwningSubsidiaries 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:24px;height:11px;"&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:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Wholly Owned Subsidiaries&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&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:260px;"&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:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1 &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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Bulk Management Inc.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;23 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Mega LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2 &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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Starbulk S.A.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;24 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Big LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;3 &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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Bulk Manning LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;25 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Gravity Shipping LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;4 &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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Bulk Shipmanagement Company (Cyprus) Limited&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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;26 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;White Sand Shipping LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;5 &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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Optima Shipping Limited&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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;27 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXVI LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;6 &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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Omas LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;28 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Premier Voyage LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;7 &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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Synergy LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;29 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXII LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;8 &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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Oceanbulk Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;30 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Dioriga Shipping Co.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;9 &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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Oceanbulk Carriers LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;31 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;KMSRX Holdings LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;10 &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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;International Holdings LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;32 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;L.A. Cape Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;11 &amp;#160;&amp;#160;&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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Unity Holding LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;33 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Cape Confidence Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;12 &amp;#160;&amp;#160;&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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Bulk (USA) LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;34 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Cape Runner Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;13 &amp;#160;&amp;#160;&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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXI LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;35 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Olympia Shiptrade LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;14 &amp;#160;&amp;#160;&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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXIV LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;36 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Victory Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;15 &amp;#160;&amp;#160;&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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXVII LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;37 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Cape I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;16 &amp;#160;&amp;#160;&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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXXI LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;38 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Oday Marine LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;17 &amp;#160;&amp;#160;&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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXIX LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;39 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Searay Maritime LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;18 &amp;#160;&amp;#160;&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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXVIII LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;40 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXIII LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;19 &amp;#160;&amp;#160;&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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Lamda LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;41 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Positive Shipping Company&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;20 &amp;#160;&amp;#160;&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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Alpha LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;42 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;OOCape1 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:24px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;21 &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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Beta LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;43 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXX 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:24px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;22 &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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Ypsilon LLC &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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;44 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:260px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Cape&amp;#160;II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</sblk:ListNonVesselOwningSubsidiaries>
  <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:27px;height:11px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:212px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Wholly Owned Subsidiaries&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:199px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Newbuildings Name&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Type&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;DWT&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Expected Delivery&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:27px;height:11px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Date&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:27px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:212px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Breezer LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:199px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1371 (tbn &lt;i&gt;Star Virgo&lt;/i&gt;) (1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Jan-17&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:27px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:212px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:199px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1360 (tbn &lt;i&gt;Star Ariadne&lt;/i&gt;) (1) &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Feb-17&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:27px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;3 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:212px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star 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:199px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1342 (tbn &lt;i&gt;Star Gemini&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Jul-17&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:27px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;4 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:212px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:199px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1361 (tbn &lt;i&gt;Star Magnanimus&lt;/i&gt;) (1) &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Jan-18&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:27px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;5 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:212px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star 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:199px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1343 (tbn &lt;i&gt;Star Leo&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Jan-18&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:27px;height:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:212px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:199px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:103px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:57px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;1,040,000&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
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&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:6.0px;text-indent:-24.0px;"&gt;&lt;/div&gt;</sblk:ListNewbuildingsTableTextBlock>
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&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"&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:181px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:79px;"&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:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Date&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"&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:39px;"&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-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;height:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Wholly Owned Subsidiaries&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Vessel Name&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;DWT&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Delivered to Star Bulk&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Year Built&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1 &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:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Ennea LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Poseidon&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;209,475&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February 26,&amp;#160;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2 &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:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Sea Diamond LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Goliath &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July 15, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;3 &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:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Gargantua &lt;/i&gt;2&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;209,529&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;April 2, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;4 &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:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Maharaj &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July 15, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;5 &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:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Seeker LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Libra&lt;/i&gt; &lt;i&gt;(1) &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;207,765&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;June 6, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;6 &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:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Marisa &amp;#160;(1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;207,709&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March 11 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;7 &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:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Leviathan &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;182,511&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;19, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;8 &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:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Peloreus &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;182,496&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;22, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;9 &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:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Pauline &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;180,274&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;10 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Martha &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;180,274&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 31, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2010&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;11 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Pantagruel &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;180,181&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2004&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;12 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Borealis LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Borealis&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;179,678&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;9, 2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;13 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Polaris LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Polaris&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;179,600&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November&amp;#160;14, 2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;14 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident V LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Angie &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;177,931&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;15 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Big Fish &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;177,662&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2004&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;16 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Kymopolia &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;176,990&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;17 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Big Bang &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;174,109&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;18 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Aurora LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Aurora&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;171,199&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;8, 2010&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;19 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Despoina &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;170,162&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1999&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;20 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident VII LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Eleonora &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;164,218&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 3, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;21 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident VI LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Monisha (Note 15(c)) &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;164,218&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February 2, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;22 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Amami &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;98,681&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;23 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Madredeus &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;98,681&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;24 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Sirius LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Sirius&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;98,681&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March&amp;#160;7, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;25 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Vega LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Vega&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;98,681&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February&amp;#160;13, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;26 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Alta I LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Angelina &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,981&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 5, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;27 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Alta II LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Gwyneth &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,790&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 5, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;28 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident&amp;#160;I LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Kamila &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,769&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;3, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2005&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;29 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Pendulum &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,619&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;30 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XIX LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Maria &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,598&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November 5, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;31 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XII LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Markella &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,594&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;32 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident IX LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Danai &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,574&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 21, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;33 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XI LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Georgia &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,298&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 14, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;34 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident VIII LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Sophia &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,269&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 31, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;35 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XVI LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Mariella &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,266&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;19, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;36 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XIV LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Moira &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,257&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November 19, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;37 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XVIII LLC &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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Nina &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,224&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 5, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;38 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident X LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Renee &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,221&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 18, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;39 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident&amp;#160;II LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Nasia &amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,220&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;August&amp;#160;29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;40 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XIII LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Laura &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,209&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 8, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;41 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XV LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Jennifer &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,209&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;April 15, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;42 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XVII LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Helena &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,187&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;43 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Mercurial Virgo &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;81,545&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;44 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident&amp;#160;III LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Iris &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;76,466&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;8, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2004&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;45 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident IV LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Aline (Note 15 (c)) &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;76,429&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;4, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2004&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;46 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XX LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Emily &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;76,417&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;16, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2004&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;47 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXV Ltd.&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Vanessa &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;72,493&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November 7, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1999&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;48 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Idee Fixe (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63,458&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March 25, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;49 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Roberta (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63,426&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March 31, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;50 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Laura (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63,399&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;April 7, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;51 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Kaley (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63,283&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;June 26, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Kennadi &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63,262&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 8, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;53 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Mackenzie&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63,226&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March 2, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;54 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star 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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Challenger&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61,462&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December&amp;#160;12, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2012&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;55 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star 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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Fighter&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61,455&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December&amp;#160;30, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;56 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star 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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Lutas&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61,347&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 6, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;57 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Honey Badger &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February 27, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;58 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Wolverine &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February 27, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;59 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Axe I LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Antares&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 9, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;60 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star 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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Aquarius&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July 22, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star 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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Pisces&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;August 7, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;62 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:136px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Strange Attractor &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;55,742&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Omicron LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Omicron&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;53,489&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;April&amp;#160;17, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2005&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;64 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Gamma LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Gamma&lt;/i&gt; &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;53,098&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January&amp;#160;4, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2002&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;65 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Zeta LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Zeta&lt;/i&gt; &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,994&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January&amp;#160;2, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2003&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;66 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Delta LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Delta &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,434&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January&amp;#160;2, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;67 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Theta LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Theta&lt;/i&gt; &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,425&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December&amp;#160;6, 2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2003&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;68 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Epsilon LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Epsilon &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,402&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December&amp;#160;3, 2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;69 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Cosmo LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Cosmo&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,247&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;1, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2005&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&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:solid #000000 0.0px;width:24px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;70 &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Kappa LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Kappa &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,055&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December&amp;#160;14, 2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:44px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:12px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:181px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&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:Times New Roman;font-size:10.7px;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:79px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;7,421,255&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:132px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"&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:39px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Vessels subject to a capital bareboat lease (Note 5)&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;/div&gt;</sblk:ListOfSubsidiariesTableTextBlock>
  <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="FYp0YTD">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;13.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Commitments and Contingencies:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 24.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;a)&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Lease commitments&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The following table sets forth inflows and outflows related to the Company's leases, as at June 30, 2016.&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:191px;height:13px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="7" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:476px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Twelve month periods ending June 30,&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;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:74px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2021&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2022 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:191px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$21,372 &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:Times New Roman;font-size:13.3px;color:#000000; "&gt;$21,372 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:25px;"&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;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:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(4,156)&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;(3,595)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(561)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:25px;"&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;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:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(6,808)&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;(6,472)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(336)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:15px;"&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;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:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(164,765)&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;(3,848)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(10,467)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(12,512)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(12,450)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(12,699)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(112,789)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:13px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt; &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;($154,357)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$7,457 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;($11,364)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;($12,512)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;($12,450)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;($12,699)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;($112,789)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:191px;"&gt;&lt;/td&gt;
    &lt;td style="width:74px;"&gt;&lt;/td&gt;
    &lt;td style="width:58px;"&gt;&lt;/td&gt;
    &lt;td style="width:67px;"&gt;&lt;/td&gt;
    &lt;td style="width:67px;"&gt;&lt;/td&gt;
    &lt;td style="width:67px;"&gt;&lt;/td&gt;
    &lt;td style="width:67px;"&gt;&lt;/td&gt;
    &lt;td style="width:74px;"&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-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The amounts represent the minimum contractual charter revenues to be generated from the existing non-cancellable time and freight charters until their expiration, net of address commission, assuming no off-hire days other than those related to scheduled interim surveys 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:Times New Roman;font-size:13.3px;color:#000000; "&gt;(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 &lt;i&gt;Maiden Voyage&lt;/i&gt; 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:Times New Roman;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 for upfront hire and handling fees under the bareboat lease arrangements for the vessels 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:Times New Roman;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 for charter hire fees under the bareboat lease arrangements for the vessels under construction. The bareboat charter hire is comprised of both a fixed and a variable portion; the variable portion is calculated based on the 6-month LIBOR rate of 0.92415%, as of June 30, 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;&lt;b&gt;b)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Legal proceedings&lt;/b&gt;&lt;i&gt;&lt;b&gt; &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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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 accrues for the cost of environmental liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. Currently, management is not aware of, and has not accrued for, any such claims or contingent liabilities requiring disclosure in the accompanying unaudited interim condensed consolidated financial statements.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On July 13, 2011 &lt;i&gt;Star Cosmo&lt;/i&gt; was detained 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 detained, and related records were allegedly deficient. Administrative investigation commenced locally. The Company posted a cash collateral of &amp;#128; 340,000 (approximately $377, using the exchange rate as of June 30, 2016, eur/usd 1.11) to guarantee the payment of fines that could be assessed in the future, and the vessel was released. The cash collateral of &amp;#128; 340,000&amp;#160;was released to the Company in March 2012, after being&amp;#160;replaced by a P&amp;amp;I Letter of undertaking. The fines were subsequently reduced by the Spanish administrative authorities to &amp;#128;260,000&amp;#160;(approximately $289, using the exchange rate of June 30, 2016, eur/usd1.11). After final adjudication of the fines before the Spanish Courts, the Company settled with&amp;#160;payments in cash the equivalent amount of the fines of&amp;#160;&amp;#128;60,000 in March 2015 (approximately $67, using the exchange&amp;#160; &amp;#160;rate as of June 30, 2016, eur/usd 1.11) and &amp;#128;200,000 in August 2016 (approximately $222, using the exchange rate as of June 30, 2016, eur/usd 1.11) and the file was closed. The Company's vessels are covered for pollution in the amount of $1 billion of insurance per vessel per incident by the Protection and Indemnity (P&amp;amp;I) Association in which the Company's vessels are entered. The Company's vessels are subject to calls payable to their P&amp;amp;I Association and may be subject to supplemental calls which are based on estimates of premium income and anticipated and paid claims. 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 condensed consolidated financial statements. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;As described on Item 8 of the Company's the 2015 20-F Annual Report, on October&amp;#160;23, 2014, a purported shareholder (the &amp;#147;Plaintiff&amp;#148;) of the Company filed a derivative and putative class action lawsuit in New&amp;#160;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&amp;#160;24, 2014, the Company and the other defendants removed the action to the United States District Court for the Southern District of New&amp;#160;York. On March&amp;#160;4, 2015, the Company and the other defendants moved to dismiss the complaint. On February&amp;#160;18, 2016, the court granted the Company's motion to dismiss in full and dismissed the matter. On February&amp;#160;24, 2016, Plaintiff filed a notice of appeal. Plaintiff's appeal brief was served on June 1, 2016. Defendants' response brief is due on August 31, 2016 and following Plaintiff's request for extension on their reply brief, the Court granted an extension for September 26, 2016. No further schedule has been set. The appeal is pending.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
  <us-gaap:ContractualObligationFiscalYearMaturityScheduleTableTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:13px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="7" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:476px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Twelve month periods ending June 30,&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;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:74px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2021&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2022 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:191px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$21,372 &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:Times New Roman;font-size:13.3px;color:#000000; "&gt;$21,372 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:25px;"&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;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:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(4,156)&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;(3,595)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(561)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:25px;"&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;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:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(6,808)&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;(6,472)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(336)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:15px;"&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;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:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(164,765)&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;(3,848)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(10,467)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(12,512)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(12,450)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(12,699)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(112,789)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:13px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt; &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;($154,357)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$7,457 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;($11,364)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;($12,512)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;($12,450)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;($12,699)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;($112,789)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:191px;"&gt;&lt;/td&gt;
    &lt;td style="width:74px;"&gt;&lt;/td&gt;
    &lt;td style="width:58px;"&gt;&lt;/td&gt;
    &lt;td style="width:67px;"&gt;&lt;/td&gt;
    &lt;td style="width:67px;"&gt;&lt;/td&gt;
    &lt;td style="width:67px;"&gt;&lt;/td&gt;
    &lt;td style="width:67px;"&gt;&lt;/td&gt;
    &lt;td style="width:74px;"&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-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The amounts represent the minimum contractual charter revenues to be generated from the existing non-cancellable time and freight charters until their expiration, net of address commission, assuming no off-hire days other than those related to scheduled interim surveys 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:Times New Roman;font-size:13.3px;color:#000000; "&gt;(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 &lt;i&gt;Maiden Voyage&lt;/i&gt; 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:Times New Roman;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 for upfront hire and handling fees under the bareboat lease arrangements for the vessels 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:Times New Roman;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 for charter hire fees under the bareboat lease arrangements for the vessels under construction. The bareboat charter hire is comprised of both a fixed and a variable portion; the variable portion is calculated based on the 6-month LIBOR rate of 0.92415%, as of June 30, 2016.&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:LongTermDebtTextBlock contextRef="FYp0YTD">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;8.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Long-term Debt:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Details of the Company's credit facilities and debt securities are discussed in Note 8 of the Company's consolidated financial statements for the year ended December 31, 2015, included in the Company's 2015 20-F Annual Report. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;New Drawdowns&lt;/b&gt;: As further disclosed in Note 5, in connection with the delivery of the vessels &lt;i&gt;Star Poseidon, Star Lutas, Kennadi and Mackenzie&lt;/i&gt; during the six-month period ended June 30, 2016, the Company drew down an amount of $23,400 under the DNB-SEB-CEXIM $227,500 Facility and an aggregate amount of $42,011 under the Sinosure Facility. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Prepayments due to sale: &lt;/b&gt;In connection with the sale of the vessels &lt;i&gt;Tsu Ebisu, Deep Blue, Magnum Opus,&lt;/i&gt; &lt;i&gt;Obelix. Indomitable and Michele&lt;/i&gt; discussed in Note 5, during the six-month period ended June 30, 2016 the Company prepaid an aggregate amount of $111,407 under the corresponding facilities (the Deutsche Bank $85,000 Facility, the HSBC $20,000 Dioriga Facility, the DVB $31,000 Facility, the ABN $87,458 Facility, Commerzbank $120,000 Facility and BNP $32,480 Facility).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Commerzbank $120,000 Facility - Refinancing: &lt;/b&gt;In April 2016, the Company and Commerzbank entered into a refinancing amendment of the Commerzbank $120,000 Facility. This refinancing included (a)&amp;#160;changes to certain covenants governing this facility, (b)&amp;#160;a different amortization schedule for this facility, and (c)&amp;#160;a change in the final repayment date from October 2016 to October 2018. &lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In addition, the Company's credit facilities contain financial covenants and undertakings requiring the Company to maintain various financial ratios, including:&lt;/font&gt;&lt;/div&gt;
&lt;ul&gt;
	&lt;li type="disc" style="margin-bottom:12.0px;font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;a minimum ratio of aggregate vessel value to loans secured (&amp;#147;SCR&amp;#148;);&lt;/font&gt;&lt;/li&gt;
	&lt;li type="disc" style="margin-bottom:12.0px;font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;a maximum ratio of total liabilities to market value adjusted total assets;&lt;/font&gt;&lt;/li&gt;
	&lt;li type="disc" style="margin-bottom:12.0px;font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;a minimum EBITDA to interest coverage ratio;&amp;#160;&lt;/font&gt;&lt;/li&gt;
	&lt;li type="disc" style="margin-bottom:12.0px;font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;a minimum liquidity; and&lt;/font&gt;&lt;/li&gt;
	&lt;li type="disc" style="margin-bottom:12.0px;font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;a minimum equity ratio.&lt;/font&gt;&lt;/li&gt;
&lt;/ul&gt;&lt;div align="justify"&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-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;As of December 31, 2015 and June 30, 2016 the Company was required to maintain minimum liquidity, not legally restricted, of $150,000 and $48,643, respectively, which is included within &amp;#147;Cash and cash equivalents&amp;#148; in the accompanying consolidated balance sheets. In addition, as of December 31, 2015 and June 30, 2016 the Company was required to maintain minimum liquidity, legally restricted, of $13,997 and $13,907, respectively, which is included within &amp;#147;Restricted cash&amp;#148; in the accompanying consolidated balance sheets. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;As of December&amp;#160;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. An 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. As such, as of December&amp;#160;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&amp;#160;31, 2015, the Company was in compliance with the applicable financial and other covenants contained in its debt agreements, including the 2019 Notes. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;As of August 31, 2016, the Company's lenders agreed to, among other things, (i) defer principal payments owed through June 30, 2018 to the due date of the balloon installments of each facility, (ii) waive in full or substantially relax the financial covenants, effective as of March 31, 2016 and June 30, 2016 and through December 31, 2019 and (iii) implement a cash sweep mechanism&amp;#160;pursuant to which excess cash will be applied towards the payment of deferred amounts, payable&amp;#160;&lt;i&gt;pro rata&lt;/i&gt;&amp;#160;based on each facility's deferred amounts relative to the total deferred amounts.&amp;#160;In exchange, the Company has agreed to&amp;#160;raise additional equity &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;of not less than $50.0 million of net proceeds by September 30, 2016 &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;and impose restrictions on paying dividends (the &amp;#147;Restructuring&amp;#148;). I&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;n accordance with guidance related to the classification of &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;short-term obligations expected to be refinanced on a long-term basis&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;, the Company has reclassified&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt; all of the amounts outstanding under its bank loans as of June 30, 2016 in accordance with their repayment terms, as amended pursuant to the Restructuring. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The principal payments required to be made after June 30, 2016 for all of the then-outstanding bank debt, &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;after giving effect to the Restructuring&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;, are as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-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:334px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Twelve month periods ending&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:334px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2019&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;288,122&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2020&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;218,939&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2021&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;131,636&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2022 and thereafter&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;132,892&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Long term debt&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;771,589&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:334px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Unamortized Deferred financing fees&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;9,992&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Long term debt, net&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;761,597&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:334px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Current portion of long term debt&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Long term debt, net&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;761,597&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The 8.00% 2019 Notes mature in November 2019 and are presented in the accompanying consolidated balance sheets as of December 31, 2015 and June 30, 2016 net of unamortized deferred financing fees of $1,677 and $1,461, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;As of June 30, 2016, 64 of the Company's owned vessels, having a net carrying value of $1,569,264, were subject to first-priority mortgages as collateral to the Company's loan facilities. In addition, all six of the Company's bareboat chartered vessels, having a net carrying value of $232,835, were pledged as collateral under the Company's bareboat charter agreements.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;For the six-month periods ended June 30, 2015 and 2016, the Company's existing debt agreements bore interest at a weighted-average rate of approximately 3.30% and 3.90%, respectively. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;All of the Company's bank loans bear interest at LIBOR plus a margin. The amounts of &amp;#147;Interest and finance costs&amp;#148; included in the accompanying consolidated statements of operations are analyzed as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:373px;height:27px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; 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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Six month period ended &lt;br/&gt;June 30,&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:83px;height:15px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&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;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2016&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:373px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Interest on long term debt and capital leases&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$16,991 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$19,651 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:373px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Less: Interest capitalized &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(6,221) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-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;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(2,578) &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:373px;height:38px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other Comprehensive Income (Note 14)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;1,491 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;667 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:373px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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:83px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;1,199 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&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;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;1,561 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:373px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Other bank and finance charges &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;411&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;393&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:373px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:83px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$13,871 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$19,694 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:373px;"&gt;&lt;/td&gt;
    &lt;td style="width:83px;"&gt;&lt;/td&gt;
    &lt;td style="width:26px;"&gt;&lt;/td&gt;
    &lt;td style="width:90px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In connection with the prepayments discussed above following the sale of the corresponding vessels, the cancellation of certain loan commitments resulting from the sale of certain newbuilding vessels upon their delivery from the shipyards and the termination of two newbuilding contracts as further discussed in Note 6, $1,801 of unamortized deferred finance charges was written off and included under &amp;#147;Loss on debt extinguishment&amp;#148; in the accompanying unaudited interim condensed consolidated statement of operations for the six-month period ended June 30, 2016. In connection with the prepayment of the Excel Vessel Bridge Facility, the ABN AMRO $31,000 Facility and the Commerzbank $26,000 Facility, $974 of unamortized deferred finance charges was written off and included under &amp;#147;Loss on debt extinguishment&amp;#148; in the accompanying consolidated statement of operations for the six-month period ended June 30, 2015.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:LongTermDebtTextBlock>
  <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:373px;height:27px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; 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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Six month period ended &lt;br/&gt;June 30,&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:83px;height:15px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&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;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2016&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:373px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Interest on long term debt and capital leases&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$16,991 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$19,651 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:373px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Less: Interest capitalized &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(6,221) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-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;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(2,578) &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:373px;height:38px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other Comprehensive Income (Note 14)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;1,491 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;667 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:373px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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:83px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;1,199 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&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;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;1,561 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:373px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Other bank and finance charges &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;411&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;393&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:373px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:83px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$13,871 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$19,694 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:373px;"&gt;&lt;/td&gt;
    &lt;td style="width:83px;"&gt;&lt;/td&gt;
    &lt;td style="width:26px;"&gt;&lt;/td&gt;
    &lt;td style="width:90px;"&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:334px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Twelve month periods ending&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:334px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2019&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;288,122&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2020&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;218,939&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2021&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;131,636&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2022 and thereafter&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;132,892&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Long term debt&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;771,589&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:334px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Unamortized Deferred financing fees&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;9,992&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Long term debt, net&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;761,597&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:334px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Current portion of long term debt&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Long term debt, net&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;761,597&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:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="FYp0YTD">&lt;div style="margin-top:12.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;12.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Equity Incentive Plans:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Details of the Company's Equity Incentive Plans and share awards granted up to December 31, 2015 are discussed in Note 13 of the Company's consolidated financial statements for the year ended December 31, 2015, included in the Company's 2015 20-F Annual Report.&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;All non-vested shares and options vest according to the terms and conditions of the applicable agreements with the Company. The grantee does not have the right to vote the non-vested shares or exercise any right as a shareholder of the non-vested shares, although the issued and non-vested shares pay dividends as declared. The dividends with respect to these shares are forfeitable. Share options have no voting or other shareholder rights.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The Company currently expects that there will be no forfeitures of non-vested shares or options. 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 six-month periods ended June 30, 2015 and 2016, the total share-based compensation cost was $1,407 and $2,285, respectively, included under &amp;#147;General and administrative expenses&amp;#148; in the accompanying unaudited interim condensed consolidated statements of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On May 9, 2016, the Company's Board of Directors adopted the 2016 Equity Incentive Plan (the &amp;#147;2016 Plan&amp;#148;) and reserved for issuance 940,000 common shares thereunder. The terms and conditions of the 2016 Plan are substantially similar to the terms and conditions of Company's previous equity incentive plans. In addition, on May 9, 2016, 690,000 restricted common shares were granted to certain directors, officers, employees of the Company, 650,000 of which vest within the third quarter of 2016 while the remaining 40,000 vest on March 1, 2018. &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:Times New Roman;font-size:13.3px;color:#000000; "&gt;A summary of the status of the Company's non-vested share options and restricted shares as of June 30, 2016 and the movement during the six-month periods ended June 30, 2015 and 2016, respectively, is presented below.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:6.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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:205px;height:37px;"&gt;&lt;div style="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="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Number of options&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:127px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Weighted&amp;#160;average exercise price&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:142px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Weighted Average Grant Date Fair Value&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:205px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Options&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:205px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Outstanding at January 1, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;104,250 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;27.5 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;7.0605 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:205px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:205px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Vested&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:205px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Outstanding as of June 30, 2016&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;104,250 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;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:double #000000 3.0px;width:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;27.5&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;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:double #000000 3.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;7.0605&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:205px;"&gt;&lt;/td&gt;
    &lt;td style="width:18px;"&gt;&lt;/td&gt;
    &lt;td style="width:74px;"&gt;&lt;/td&gt;
    &lt;td style="width:19px;"&gt;&lt;/td&gt;
    &lt;td style="width:23px;"&gt;&lt;/td&gt;
    &lt;td style="width:103px;"&gt;&lt;/td&gt;
    &lt;td style="width:16px;"&gt;&lt;/td&gt;
    &lt;td style="width:21px;"&gt;&lt;/td&gt;
    &lt;td style="width:120px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Number of outstanding options as well as their exercise price and weighed average grant date fair value have been revised retroactively, for all periods presented, to give effect to the 5-for-1 reverse stock split, discussed in Note 1, by keeping the total grant date fair value unchanged. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:286px;height:39px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Number of shares&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Weighted Average Grant Date Fair Value&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Unvested as at January 1, 2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;78,833&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;54.30&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;135,230 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;17.75&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Vested&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(78,833&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;54.30&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Unvested as at June 30, 2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;135,230 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;17.75 &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:286px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:124px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:160px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Unvested as at January 1, 2016&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;135,230&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;17.75&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;690,000 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&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:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;3.75 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Cancelled&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(3,185&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;17.75 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Vested&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(132,045&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;17.75 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Unvested as at June 30, 2016&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;690,000&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;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:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;3.75&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The estimated compensation cost relating to non-vested restricted share awards and share options not yet recognized was $1,000 and $557, respectively, as of June 30, 2016 and is expected to be recognized over the weighted average period of 0.30 years and 3.79 years, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
  <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="middle" style=" border:solid #000000 0.0px;width:205px;height:37px;"&gt;&lt;div style="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="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Number of options&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:127px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Weighted&amp;#160;average exercise price&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:142px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Weighted Average Grant Date Fair Value&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:205px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Options&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:205px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Outstanding at January 1, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;104,250 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;27.5 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;7.0605 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:205px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:205px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Vested&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:205px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Outstanding as of June 30, 2016&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;104,250 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;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:double #000000 3.0px;width:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;27.5&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;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:double #000000 3.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;7.0605&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:205px;"&gt;&lt;/td&gt;
    &lt;td style="width:18px;"&gt;&lt;/td&gt;
    &lt;td style="width:74px;"&gt;&lt;/td&gt;
    &lt;td style="width:19px;"&gt;&lt;/td&gt;
    &lt;td style="width:23px;"&gt;&lt;/td&gt;
    &lt;td style="width:103px;"&gt;&lt;/td&gt;
    &lt;td style="width:16px;"&gt;&lt;/td&gt;
    &lt;td style="width:21px;"&gt;&lt;/td&gt;
    &lt;td style="width:120px;"&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="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;15.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Subsequent Events:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 36.0px;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="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;a)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Loan developments&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;As further described in Note 8, in August 2016 the Company entered into the Restructuring with its lenders.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;b)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Equity offering&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The Company has announced on September 14&lt;sup&gt;th&lt;/sup&gt; that it plans to make a public offering of its common shares, in order to comply with the conditions precedent of the Restructuring. The Company intends to use the net proceeds from the offering for general corporate purposes. Oaktree Capital Management, L.P. (&amp;#147;Oaktree&amp;#148;) and entities affiliated with the family of Mr. Petros Pappas, the Company's Chief Executive Officer (the &amp;#147;Pappas Affiliates&amp;#148;), which are two of the Company's significant shareholders, have expressed an interest in purchasing a substantial amount of common shares in this offering.&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="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;c)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Fleet update&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On July 26th, 2016 and August 10th, 2016 the Company entered into separate agreements with third parties to sell the vessels &lt;i&gt;Star Monisha&lt;/i&gt; and &lt;i&gt;Star Aline&lt;/i&gt; respectively. The vessel &lt;i&gt;Star Monisha&lt;/i&gt; was delivered to its new owners on August 17, 2016 and the vessel &lt;i&gt;Star Aline&lt;/i&gt; is expected to be delivered to its new owners until the end of September 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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;Listing Compliance&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On July 7, 2016, the Company announced that it has regained compliance with Listing Rule 5450(a)(1) of the NASDAQ Global Select Market with respect to the minimum bid price for the Company's common shares, which the NASDAQ Listing Qualifications Department confirmed in a letter to the Company dated July 6, 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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Equity Award&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;On September 12, 2016, the Company's Board of Directors granted 345,000 restricted common shares to certain of the Company's directors and officers, as a bonus for the successful Restructuring discussed in Note 8, subject to the successful completion of the equity offering described above in Note 15(b). Out of these shares, 305,000 will vest on March 31, 2017, and the remaining 40,000 will vest on March 1, 2018.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 30.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 30.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:SubsequentEventsTextBlock>
  <us-gaap:FairValueDisclosuresTextBlock contextRef="FYp0YTD">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;14.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Fair value measurements:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The Company recognizes all derivative instruments as either assets or liabilities at fair value on its consolidated balance sheets in accordance with ASC Topic 815, &amp;#147;&lt;i&gt;Derivatives and Hedging&lt;/i&gt;&amp;#148;.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&lt;u&gt;Fair value on a recurring basis:&lt;/u&gt;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Interest rate swaps&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The Company enters into interest rate swap transactions to manage interest costs and risk associated with changing interest rates with respect to its variable interest loans and credit facilities.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In June&amp;#160;2013, the Company entered into two interest rate swap agreements with Credit Agricole Corporate and Investment Bank (the &amp;#147;Credit Agricole Swaps&amp;#148;) to fix forward its floating interest rate liabilities under the two tranches of the Credit Agricole $70,000 Facility. The Credit Agricole Swaps were based on an amortizing notional amount beginning from $26,840 and $28,628, for the &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&amp;#160;and August&amp;#160;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 June 30, 2016, the notional amount of these swaps was $23,927 and $25,131, for the &lt;i&gt;Star Borealis&lt;/i&gt; and the &lt;i&gt;Star Polaris&lt;/i&gt;, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In addition, on April&amp;#160;28, 2014, the Company entered into two interest rate swap agreements (the &amp;#147;HSH Swaps&amp;#148;) to fix forward 50% of its floating interest rate liabilities for the HSH Nordbank $35,000 Facility. The HSH Swaps came into effect in September&amp;#160;2014 and mature in September&amp;#160;2018. Under the terms of the HSH Swaps, the Company pays on a quarterly basis a fixed rate of 1.765% per annum, while receiving a variable amount equal to the three-month LIBOR, both applied on the notional amount of the swaps outstanding at each settlement date. As of June 30, 2016, the aggregate notional amount of these swaps was $14,781.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On August&amp;#160;31, 2014 the Company designated the Credit Agricole Swaps and the HSH Swaps as cash flow hedges in accordance with ASC 815, &amp;#147;&lt;i&gt;Derivatives and Hedging.&lt;/i&gt;&amp;#148; Accordingly, in the accompanying unaudited interim condensed consolidated statement of operations for the relevant period, the effective portion of these cash flow hedges is reported in &amp;#147;Accumulated other comprehensive loss,&amp;#148; while the ineffective portion of these cash flow hedges, if any, is reported under &amp;#147;Gain / (Loss) on derivative financial instruments, net.&amp;#148;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;As part of the Merger, the Company acquired five swap agreements that Oceanbulk Shipping had entered into 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% and 2.07% per annum, based on an aggregate notional amount that varies. From July&amp;#160;1, 2015 to October&amp;#160;1, 2015, this notional amount reached an upper limit of $461,264. The counterparty makes quarterly floating rate payments at three-month LIBOR to the Company based on the same notional amount. Upon the completion of the Merger, on July&amp;#160;11, 2014, the Company re-designated the Goldman Sachs Swaps as cash flow hedges in accordance with ASC 815. Accordingly, the effective portion of these cash flow hedges from that date and until March 31, 2015 (see below) was reported in &amp;#147;Accumulated other comprehensive loss&amp;#148; while the ineffective portion of these cash flow hedges was reported as gain under &amp;#147;Gain /(Loss) on derivative financial instruments, net&amp;#148; in the statement of operations for the relevant period. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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 in 2015 of some of the Company's vessels 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 loss&amp;#148; with respect to the corresponding swaps is being reclassified to earnings when the hedged forecasted transaction impacts the Company's earnings (i.e., when the hedged loan interest is incurred), except for that portion related to loans of the sold vessels that is being written down to earnings in the period when sale is probable, for which the forecasted transactions are no longer expected to occur. As of June 30, 2016, the notional amount of these swaps was $431,750.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The amount recognized in &amp;#147;Other comprehensive income/ (loss)&amp;#148; is derived from the effective portion of unrealized losses from cash flow hedges. &lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The amounts of Gain / (Loss) on derivative financial instruments recognized in the accompanying unaudited interim condensed consolidated statements of operations are analyzed as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="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:439px;height:26px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:207px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Six month period ended June 30, &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:439px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width: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:84px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:31px;"&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:73px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2016&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:439px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Unaudited Condensed Consolidated Statement 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:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:31px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:73px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Gain/(loss) on derivative instruments, net&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:solid #000000 0.0px;width:84px;"&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:solid #000000 0.0px;width:31px;"&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:73px;"&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:439px;height:25px;"&gt;&lt;div style="text-indent:26.7px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Unrealized gain/(loss) 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:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" 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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;883 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:31px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$ &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:73px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(1,930)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:25px;"&gt;&lt;div style="text-indent:26.7px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Realized gain/(loss) 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:21px;"&gt;&lt;div style="text-indent:26.7px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" 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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(1,344)&lt;/font&gt;&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:31px;"&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:73px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(2,709)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:38px;"&gt;&lt;div style="text-indent:26.7px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Write-off of unrealized losses related to forecasted transactions which are no longer considered probable reclassified from other comprehensive income/(loss) &amp;#160;&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:26.7px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" 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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(227)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:31px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:73px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(42)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Gain/(Loss) on derivative instruments, net&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(688)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:31px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$ &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:73px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;(4,681)&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:439px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&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:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:31px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:73px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Interest and finance costs&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:solid #000000 0.0px;width:84px;"&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:solid #000000 0.0px;width:31px;"&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:73px;"&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:439px;height:25px;"&gt;&lt;div style="text-indent:40.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other comprehensive income/(loss) (Note 8)&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:40.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" 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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(1,491)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:31px;"&gt;&lt;div style="text-indent:40.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:73px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(667)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Gain/(Loss) recognized&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(1,491)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:31px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:73px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(667)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:439px;"&gt;&lt;/td&gt;
    &lt;td style="width:21px;"&gt;&lt;/td&gt;
    &lt;td style="width:84px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:31px;"&gt;&lt;/td&gt;
    &lt;td style="width:73px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;An amount of approximately $814 is expected to be reclassified into earnings during the following 12-month period when realized.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In relation to the above interest rate swap agreements designated as cash flow hedges and the corresponding amount recorded in &amp;#147;Accumulated other comprehensive loss&amp;#148; as of June 30, 2016, and in accordance with ASC 815 &amp;#147;&lt;i&gt;Derivatives and Hedging - Timing and Probability of the Hedged Forecasted Transaction&lt;/i&gt;,&amp;#148; the management of the Company considered the creditworthiness of its counterparties and the expectations of the forecasted transactions and determined that no events have occurred that would make the forecasted transaction not probable.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The guidance for fair value measurements applies to all assets and liabilities that are being measured and reported on a fair value basis. 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 statement requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 120.0px;margin-bottom:12.0px;text-indent:-72.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;u&gt;Level 1:&lt;/u&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Quoted market prices in active markets for identical assets or liabilities&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 120.0px;margin-bottom:12.0px;text-indent:-72.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;u&gt;Level 2:&lt;/u&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Observable market-based inputs or unobservable inputs that are corroborated by market data&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 120.0px;margin-bottom:12.0px;text-indent:-72.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;u&gt;Level 3:&lt;/u&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Unobservable inputs that are not corroborated by market data&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The following table summarizes the valuation of the Company's financial instruments as of December 31, 2015 and June 30, 2016 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;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:200px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="4" style=" border:solid #000000 0.0px;width:461px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Significant Other Observable Inputs (Level 2)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:245px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31, 2015&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:215px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30, 2016&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:200px;height:25px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:138px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;(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:107px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;(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:109px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;(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:106px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;(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:200px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;ASSETS&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:138px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:107px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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:138px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:107px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:109px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size: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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:138px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:107px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:109px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:106px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;LIABILITIES&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:138px;"&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:107px;"&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:109px;"&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:106px;"&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:200px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Interest rate swaps - liability 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:138px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;7,642 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:107px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;807 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:109px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;9,155 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size: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;1,362 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:138px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:107px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;807 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;9,155 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size: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;1,362 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:200px;"&gt;&lt;/td&gt;
    &lt;td style="width:138px;"&gt;&lt;/td&gt;
    &lt;td style="width:107px;"&gt;&lt;/td&gt;
    &lt;td style="width:109px;"&gt;&lt;/td&gt;
    &lt;td style="width:106px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The carrying values of temporary cash investments, restricted cash, accounts receivable and accounts payable approximate their fair value due to the short-term nature of these financial instruments. The fair value of long-term bank loans, bearing interest at variable interest rates, approximates their recorded values as of June 30, 2016.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The 8.00% 2019 Notes have a fixed rate, and their estimated fair value, determined through Level 1 inputs of the fair value hierarchy (quoted price on NASDAQ under the ticker symbol SBLKL), is approximately $33,000 as of June 30, 2016.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&lt;u&gt;&amp;#160;&lt;/u&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:FairValueDisclosuresTextBlock>
  <us-gaap:EarningsPerShareTextBlock contextRef="FYp0YTD">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;11.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Earnings / (Loss) per Share:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;All shares issued (including the restricted shares issued under the Company's equity incentive plans) are the Company's common shares and have equal rights to vote and participate in dividends. The restricted shares issued under the Company's equity incentive plans are subject to forfeiture provisions set forth in the applicable award agreements. The calculation of basic earnings per share does not consider the non-vested shares as outstanding until the time-based vesting restriction has lapsed.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The Company calculates basic and diluted earnings / loss per share as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:234px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Six month period ended June 30, &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2016&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:331px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Income / (Loss) :&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Net income / (loss)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(105,197&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(81,696&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:6px;"&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;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Basic 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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Weighted average common shares outstanding, basic&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;34,347,332 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;43,880,713 &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:331px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Basic earnings / (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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(3.06) &amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(1.86) &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:331px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Effect of dilutive securities:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:331px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Weighted average common shares outstanding, diluted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;34,347,332 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;43,880,713 &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:331px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Diluted 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:17px;"&gt;&lt;div style="text-indent:133.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(3.06)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(1.86)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:331px;"&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:86px;"&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:86px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Because the Company incurred net losses for the six-month periods ended June 30, 2015 and 2016, the effect of the 135,230 and 690,000 non-vested shares and of the 104,250 non-vested share options outstanding as of June 30, 2015 and 2016, respectively, would be anti-dilutive; therefore &amp;#147;Basic earnings / (loss) per share&amp;#148; equals &amp;#147;Diluted earnings / (loss) per share.&amp;#148;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:EarningsPerShareTextBlock>
  <sblk:ManagementFeesTextBlock contextRef="FYp0YTD">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;10.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Management fees:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;As of January 1, 2015, the Company engaged Ship Procurement Services S.A. (&amp;#147;SPS&amp;#148;), an unaffiliated third-party company, to provide to its fleet certain procurement services at a daily fee of $0.295 per vessel. Total management fees to SPS for the six-month periods ended June 30, 2015 and 2016 were $3,748 and $3,911, respectively, and are included in &amp;#147;Management fees&amp;#148; in the accompanying unaudited interim condensed statement of operations. In addition, Management fees for the six-month period ended June 30, 2015 also include $315 of fees incurred pursuant to the management agreement with Maryville discussed in Note 3. &lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;/div&gt;</sblk:ManagementFeesTextBlock>
  <us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="FYp0YTD">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;9.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Preferred and Common Shares and Additional Paid-in Capital:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Details of the Company's Preferred and Common Shares are discussed in Note 9 of the Company's consolidated financial statements for the year ended December 31, 2015, included in the Company's 2015 20-F Annual Report.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Equity offerings&lt;/b&gt;&lt;/i&gt;: On January 14, 2015, the Company completed a primary underwritten public offering of 9,800,084 of its common shares, at a price of $25.00 per share. The aggregate proceeds to the Company, net of underwriters' commissions and offering expenses, were $242,211. In addition, on May 18, 2015, the Company completed a primary underwritten public offering of 11,250,000 common shares, at a price of $16.00 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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Issuance of shares in connection with vessel acquisitions&lt;/b&gt;&lt;/i&gt;: As further discussed in Note 5 above, 851,577 of the Company's common shares were issued during the six-month period ended June 30, 2015 in connection with the delivery of the final six Excel 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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Issuance of shares in connection with the Company's Equity Incentive Plan&lt;/b&gt;&lt;/i&gt;: In April 2016, the Company issued 134,545 common shares in connection with its 2015 Equity Incentive Plan.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;5-for-1 reverse stock split: &lt;/b&gt;&lt;/i&gt;Effective as of the opening of trading on June 20, 2016, the Company effected a five-for-one reverse stock split of its common shares. The reverse stock split was approved by shareholders at the Company's Special Meeting of Shareholders held on December 21, 2015. The reverse stock split reduced the number of the Company's common shares from 219,788,952 to 43,955,659 and affected all issued and outstanding common shares. No fractional shares were issued in connection to the reverse split. Shareholders who would otherwise have held a fractional share of the Company's common stock received a cash payment in lieu of such fractional share.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;/div&gt;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
  <sblk:FairValueAboveMarketAcquiredTimeChartersTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;7.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Fair value of Above-Market Acquired Time Charters:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;As part of the Merger in July 2014, a $1,967 intangible asset was recognized in connection with a fair value adjustment for two favorable time charters for the vessels &lt;i&gt;Amami &lt;/i&gt;and &lt;i&gt;Madredeus&lt;/i&gt;, each of which was leased by Oceanbulk at the time of the Merger.&lt;i&gt; &lt;/i&gt;Accumulated amortization&lt;i&gt; &lt;/i&gt;as of December 31, 2015 in connection with these time charters was $1,713, leaving an unamortized balance as of December 31, 2015 of $254, which was fully amortized during the six-month period ended June 30, 2016. The corresponding amortization for the six-month period ended June 30, 2015 was $575. Such amortization is included under &amp;#147;Voyage revenues&amp;#148; in the accompanying unaudited interim condensed consolidated statements of operations. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The amortization of the fair value of above-market acquired time charters for the six-month period ended June 30, 2015 also included $6,496 related to the vessels &lt;i&gt;Star Big,&lt;/i&gt; &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 had been fully amortized up to December 31, 2015, as further described in Note 7 in the Company's consolidated financial statements for the year ended December 31, 2015, included in the Company's 2015 20-F Annual Report). &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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 connection with this sale, its above-market acquired time charter was terminated early, and the unamortized balance relating to this vessel of $2,114 at June 30, 2015, was written off and reflected under &amp;#147;Loss on time charter agreement termination&amp;#148; in the accompanying unaudited interim condensed consolidated statement of operations for the six-month period ended June 30, 2015. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;/div&gt;</sblk:FairValueAboveMarketAcquiredTimeChartersTextBlock>
  <sblk:AdvancesForVesselsAcquisitionsTextBlock contextRef="FYp0YTD">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;6.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Advances for vessels under construction and acquisition of vessels:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/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:314px;height:39px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;br/&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31, 2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30, 2016&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:314px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Pre-delivery Yard installments and Fair value adjustment&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;65,009&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;26,054&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;54,428&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;25,272&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Capitalized interest and finance costs&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;6,301&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;3,552&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Other capitalized costs &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;2,172&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1,014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;127,910&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;55,892&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;During the six-month period ended June 30, 2016, the Company terminated two shipbuilding contacts, leaving the Company with no future capital expenditure obligations with respect to these two newbuildings. Following the Company's impairment evaluation as of December 31, 2015, an additional impairment charge of $1,068 was recorded in the six-month period ended June 30, 2016 in order to totally impair the cost of these advances. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;As summarized in the relevant table of Note 1, as of June 30, 2016 the Company was party to five newbuilding contracts (three of which are subject to capital bareboat leases) for the construction of dry bulk carriers of various types. As of June 30, 2016, the total aggregate remaining contracted price for the five newbuilding vessels plus agreed additional amounts was $193,395, payable in periodic installments up to their deliveries, of which $83,492 is payable during the next twelve-month period ending June 30, 2017 and the remaining $109,903 is payable during the twelve months ending June 30, 2018. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;As a result of the renegotiation of prices and delivery dates of certain of the Company's newbuilding vessels, as disclosed in the Company's consolidated financial statements for the year ended December 31, 2015, included in the Company's 2015 20-F Annual Report, the Company as of June 30, 2016 is entitled to receive a refund of $5,492 from the shipyards, $1,604 of&lt;i&gt; &lt;/i&gt;which is separately reflected in the accompanying relevant consolidated balance sheet under &amp;#147;Other non-current assets,&amp;#148; and the remaining $3,888 of which is included under &amp;#147;Prepaid expenses and other receivables.&amp;#148;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;/div&gt;</sblk:AdvancesForVesselsAcquisitionsTextBlock>
  <us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="FYp0YTD">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;5.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Vessels and other fixed assets, net:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The amounts in the accompanying consolidated balance sheets are analyzed as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/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:281px;height:26px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31, 2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30, 2016&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:281px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:281px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;2,025,688&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;2,096,931&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:281px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Other fixed assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1,810&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1,848&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:281px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total 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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2,027,498&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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2,098,779&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:281px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(269,946&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(296,272&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:281px;height:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessels and other fixed assets, net&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border: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:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1,757,552&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:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1,802,507&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Vessels acquired / disposed of during the six-month period ended June 30, 2015&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Delivery of newbuilding vessels:&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(i) &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(ii) &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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 &lt;i&gt;Honey Badger&lt;/i&gt; and &lt;i&gt;Wolverine&lt;/i&gt; under the Sinosure Facility.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(iii) &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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). The delivery instalment of $37,682 was partially financed by $32,400 drawn under the DNB-SEB-CEXIM $227,500 Facility, while the remaining amount was financed through existing cash.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(iv) &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(v) &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On March 25, March 31, April 7 and June 26, 2015, the Company took delivery of the vessels &lt;i&gt;Idee Fixe&lt;/i&gt;, &lt;i&gt;Roberta&lt;/i&gt;, &lt;i&gt;Laura&lt;/i&gt; and &lt;i&gt;Kaley&lt;/i&gt;, respectively, all of which are subject to bareboat charter agreements with affiliates of New Yangzijiang shipyards that are accounted for in the Company's consolidated financial statements as a capital lease, as further described in the Company's 2015 20-F Annual Report.&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;&lt;i&gt;Acquisition of secondhand vessels&lt;/i&gt;:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;During the six-month period ended June 30, 2015, the remaining six of the Excel Vessels (&lt;i&gt;Star Nina&lt;/i&gt; (ex-&lt;i&gt;Iron Kalypso&lt;/i&gt;), &lt;i&gt;Star Nicole&lt;/i&gt; (ex-&lt;i&gt;Elinakos&lt;/i&gt;), &lt;i&gt;Star Claudia&lt;/i&gt; (ex-&lt;i&gt;Happyday&lt;/i&gt;), &lt;i&gt;Star Monisha&lt;/i&gt; (ex-&lt;i&gt;Iron Beauty&lt;/i&gt;), &lt;i&gt;Rodon&lt;/i&gt; and &lt;i&gt;Star Jennifer (ex-Ore Hansa)&lt;/i&gt; were delivered to the Company in exchange for 851,577 common shares and $39,475 in cash, completing the acquisitions of 34 vessels from Excel, as further discussed in the Company's consolidated financial statements for the year ended December 31, 2015, included in the Company's 2015 20-F Annual Report.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Sale of vessels&lt;/i&gt;:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On January&amp;#160;20, January&amp;#160;28, March&amp;#160;6, and March&amp;#160;19, 2015, the Company entered into separate agreements with third parties to sell four of the recently acquired Excel Vessels:&amp;#160;&lt;i&gt;Star Julia&lt;/i&gt;,&amp;#160;&lt;i&gt;Star Tatianna&lt;/i&gt;,&amp;#160;&lt;i&gt;Rodon&amp;#160;&lt;/i&gt;and&amp;#160;&lt;i&gt;Star Monika&lt;/i&gt;, respectively. The vessels were delivered to their new owners on February&amp;#160;4, February&amp;#160;9, March&amp;#160;12 and April&amp;#160;7, 2015, respectively. As of March 31, 2015, the vessel &lt;i&gt;Star Monika&lt;/i&gt; met the criteria for classification as held for sale, and the Company recognized an impairment loss of $1,080. In addition, the vessel&amp;#160;&lt;i&gt;Star Kim,&lt;/i&gt;&amp;#160;which was agreed to be sold in December 2014, was delivered to its new owners on January 21, 2015. In connection with the sale of the vessels&amp;#160;&lt;i&gt;Star Julia&lt;/i&gt;,&lt;i&gt;&amp;#160;Star Tatianna, Star Monika&lt;/i&gt;&amp;#160;and&amp;#160;&lt;i&gt;Star Kim&lt;/i&gt;,&amp;#160;the Company prepaid an amount of $18,181 under the Excel Vessel CiT Facility. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In addition, on April 17, 2015, May 18, 2015 and June 5, 2015 the Company entered into separate agreements with third parties to sell the vessels &lt;i&gt;Star Big&lt;/i&gt;, &lt;i&gt;Star Christianna&lt;/i&gt; and &lt;i&gt;Star Mega&lt;/i&gt;. The vessels were delivered to their new owners on June 4, 2015, June 23, 2015 and June 17, 2015, respectively. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In connection with the aforementioned sales the Company recognized a total net loss on sale of vessels of $13,389, which is separately reflected in the accompanying statement of operations for the six-month period ended June 30, 2015. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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;. The vessel was delivered to its new owner in September 2015. As part of this transaction, the vessel was leased back to the Company under a time charter for two years, and Star Bulk guaranteed all the liabilities and responsibilities of the vessel's shipowning entity (Premier Voyage LLC) under this charter. The lease back did not meet the lease classification test for a capital lease and was accounted for as an operating lease. In addition, the vessel did not meet the 'held-for-sale' classification criteria as of June 30, 2015, as it was not considered available for immediate sale in its present condition. In connection with this sale, an impairment charge of $8,282 was recorded, which includes a $4,411 write-off of the fair value adjustment recognized upon the Merger. 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 June 30, 2016 is $90 and is reflected within &lt;i&gt;&amp;#147;Other non-current liabilities&amp;#148;&lt;/i&gt; in the accompanying consolidated balance sheets, while amortization of this deferred gain during the six-month period ended June 30, 2016 is $37 and is included within &lt;i&gt;&amp;#147;Charter-in hire expense&amp;#148;&lt;/i&gt; in the accompanying unaudited interim condensed consolidated statement of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Vessels acquired / disposed of during the six-month period ended June 30, 2016&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Delivery of newbuilding vessels:&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(i) &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On January 6, 2016, the Company took delivery of the vessel &lt;i&gt;Star Lutas&lt;/i&gt; (ex-HN NE 197). The delivery installment of $19,770 was partially financed by $14,813 drawn down under the Sinosure Facility. &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:Times New Roman;font-size:13.3px;color:#000000; "&gt;(ii) &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On January 8, 2016, the Company took delivery of the vessel &lt;i&gt;Kennadi&lt;/i&gt; (ex-HN 1080). The delivery installment of $21,229 was partially financed by $14,478 drawn down under the Sinosure Facility.&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;(iii) &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On February 26, 2016, the Company took delivery of the vessel &lt;i&gt;Star Poseidon&lt;/i&gt; (ex-HN NE 198). The delivery installment of $33,391 was partially financed by $23,400 drawn down under the DNB-SEB-CEXIM $227,500 Facility.&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;(iv) &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On March 2, 2016, the Company took delivery of the vessel &lt;i&gt;Mackenzie&lt;/i&gt; (ex-HN 1081). The delivery installment of $18,221 was partially financed by $12,720 drawn down under the Sinosure Facility.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(v) &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On March 11, 2016 and June 6, 2016, the Company took delivery of the vessels &lt;i&gt;Star Marisa&lt;/i&gt; (ex-HN 1359) and &lt;i&gt;Star Libra&lt;/i&gt; (ex-HN 1372), which are each subject to a separate bareboat charter agreement with CSSC (Hong Kong) Shipping Company Limited (&amp;#147;CSSC&amp;#148;). &amp;#160;Each of these bareboat charter agreements is accounted for in the Company's consolidated financial statements as a capital lease, as further described in the Company's 2015 20-F Annual Report.&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;&lt;i&gt;Sale of vessels&lt;/i&gt;:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In late 2015, the Company entered into various separate agreements with third parties to sell four of its 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;) and five of its 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; upon their delivery from the shipyards&lt;i&gt;. &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. All these sold vessels were delivered to their purchasers during the six-month period ended June 30, 2016, and the Company recognized a net loss on sale of $21. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In addition, in late March 2016, the Company negotiated the sale of &lt;i&gt;Star Michele&lt;/i&gt;. The Memorandum of the Agreement was signed in April 2016 and the vessel was delivered to its buyers in late May 2016. In connection with this sale, the Company recognized an impairment loss of $5,626, which is reflected within &amp;#147;Impairment loss&amp;#148; in the accompanying unaudited interim condensed consolidated statement of operations for the six-month period ended June 30, 2016. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Capital leases&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;As of June 30, 2016, the Company was party to six capital leases, for the vessels &lt;i&gt;Idee Fixe&lt;/i&gt;, &lt;i&gt;Roberta&lt;/i&gt;, &lt;i&gt;Laura&lt;/i&gt;, &lt;i&gt;Kaley&lt;/i&gt;, &lt;i&gt;Star Marisa and Star Libra&lt;/i&gt;. The interest expense on the financial liability related to the Company's capital leases for the six-month periods ended June 30, 2016 and 2015 was $3,016 and $872, respectively, and is included within &amp;#147;Interest and finance costs&amp;#148; in the accompanying unaudited interim condensed consolidated statements of operations. As of June 30, 2016, the net book value of the vessels under capital leases was $232,835, with accumulated amortization of $5,984. The principal payments required to be made after June 30, 2016 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;
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    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Twelve month periods ending&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Amount&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:351px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;17,689&lt;/font&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-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;17,647&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:351px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2019&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;18,534&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
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    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2020&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;21,439&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2021&lt;/font&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:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;21,973&lt;/font&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-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2022 and thereafter&lt;/font&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: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-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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;116,710&lt;/font&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:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total 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:18px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;213,992&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:14px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Excluding bareboat interest &lt;/font&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:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;51,259&lt;/font&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:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total lease commitments&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;162,733&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:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Lease commitments -&amp;#160;current portion&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;9,137&lt;/font&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-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Lease commitments -&amp;#160;non-current portion&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;153,596&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Other than the sale of &lt;i&gt;Star Michele &lt;/i&gt;as discussed above and the termination of two newbuilding contracts discussed in Note 6 below, which collectively resulted in an aggregate impairment loss of $6,694 during the six-month period ended June 30, 2016, no other events and circumstances were identified that would require an additional impairment since the Company's last impairment exercise as of December 31, 2015. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
  <us-gaap:InventoryDisclosureTextBlock contextRef="FYp0YTD">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;4.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Inventories:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The amounts shown in the accompanying consolidated balance sheets are analyzed as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:114px;height:26px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31, 2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30, 2016&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:114px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Lubricants&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;7,438&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;7,273&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:114px;height:13px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Bunkers&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;6,809&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;9,609&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:114px;height:13px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; 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:Times New Roman;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;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;16,882&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:InventoryDisclosureTextBlock>
  <us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Details of the Company's transactions with related parties did not change in the six-month period ended June 30, 2016 and are discussed in Note 3 of the Company's consolidated financial statements for the year ended December 31, 2015, included in the Company's 2015 20-F Annual Report. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Transactions and balances with related parties are analyzed as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&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;/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:340px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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: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: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:118px;"&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;&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:98px;"&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:340px;height:27px;"&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: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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:118px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;December 31, 2015&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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;June 30, 2016&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:340px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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: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:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&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:340px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Oceanbulk Maritime S.A. and its affiliates&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1,209&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;672&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:13px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Assets&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1,209&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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;672&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:340px;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: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:118px;"&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;&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:98px;"&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:340px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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: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:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;"&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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&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:340px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Interchart Shipping Inc. &lt;/font&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:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;8&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;125&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Combine Marine Ltd.&lt;/font&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: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:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;9&lt;/font&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:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Oceanbulk Maritime S.A. and its affiliates&lt;/font&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: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:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;33&lt;/font&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:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;29&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Management and Directors 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-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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;315&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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:340px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Managed Vessels of Oceanbulk Shipping LLC&lt;/font&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: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:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;7&lt;/font&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:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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:340px;height:13px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Oceanbulk Sellers&lt;/font&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: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:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;50&lt;/font&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:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:13px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Liabilities&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;&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;422&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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;415&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:340px;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: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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:118px;"&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-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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:98px;"&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:340px;height:34px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" 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:257px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Six month period ended &lt;br/&gt;June 30,&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2016&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:340px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Voyage expenses-Interchart &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&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:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(1,650) &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;&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;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(1,650) &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:340px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Executive directors consultancy 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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(317) &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;&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;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(248) &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:340px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Non-executive directors compensation &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(79) &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;&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;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(75) &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:340px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Office rent - Combine Marine Ltd. &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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: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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(17) &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:340px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Management fee expense - Maryville Maritime Inc.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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: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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Interest on Excel Vessel Bridge Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(220) &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;&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:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
  <us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock 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:200px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="4" style=" border:solid #000000 0.0px;width:461px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Significant Other Observable Inputs (Level 2)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:245px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31, 2015&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:215px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30, 2016&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:200px;height:25px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:138px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;(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:107px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;(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:109px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;(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:106px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;(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:200px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;ASSETS&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:138px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:107px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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:138px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:107px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:109px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size: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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:138px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:107px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:109px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:106px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;LIABILITIES&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:138px;"&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:107px;"&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:109px;"&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:106px;"&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:200px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Interest rate swaps - liability 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:138px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;7,642 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:107px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;807 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:109px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;9,155 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size: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;1,362 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:138px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:107px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;807 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;9,155 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size: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;1,362 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:200px;"&gt;&lt;/td&gt;
    &lt;td style="width:138px;"&gt;&lt;/td&gt;
    &lt;td style="width:107px;"&gt;&lt;/td&gt;
    &lt;td style="width:109px;"&gt;&lt;/td&gt;
    &lt;td style="width:106px;"&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-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:439px;height:26px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:207px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Six month period ended June 30, &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:439px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width: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:84px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:31px;"&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:73px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2016&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:439px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Unaudited Condensed Consolidated Statement 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:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:31px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:73px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Gain/(loss) on derivative instruments, net&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:solid #000000 0.0px;width:84px;"&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:solid #000000 0.0px;width:31px;"&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:73px;"&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:439px;height:25px;"&gt;&lt;div style="text-indent:26.7px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Unrealized gain/(loss) 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:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;883 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:31px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$ &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:73px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(1,930)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:25px;"&gt;&lt;div style="text-indent:26.7px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Realized gain/(loss) 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:21px;"&gt;&lt;div style="text-indent:26.7px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" 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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(1,344)&lt;/font&gt;&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:31px;"&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:73px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(2,709)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:38px;"&gt;&lt;div style="text-indent:26.7px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Write-off of unrealized losses related to forecasted transactions which are no longer considered probable reclassified from other comprehensive income/(loss) &amp;#160;&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:26.7px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" 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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(227)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:31px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:73px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(42)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Gain/(Loss) on derivative instruments, net&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(688)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:31px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$ &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:73px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;(4,681)&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:439px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&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:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:31px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:73px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Interest and finance costs&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:solid #000000 0.0px;width:84px;"&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:solid #000000 0.0px;width:31px;"&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:73px;"&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:439px;height:25px;"&gt;&lt;div style="text-indent:40.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other comprehensive income/(loss) (Note 8)&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:40.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" 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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(1,491)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:31px;"&gt;&lt;div style="text-indent:40.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:73px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(667)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Gain/(Loss) recognized&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(1,491)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:31px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:73px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(667)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:439px;"&gt;&lt;/td&gt;
    &lt;td style="width:21px;"&gt;&lt;/td&gt;
    &lt;td style="width:84px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:31px;"&gt;&lt;/td&gt;
    &lt;td style="width:73px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock>
  <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="middle" style=" border:solid #000000 0.0px;width:286px;height:39px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Number of shares&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Weighted Average Grant Date Fair Value&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Unvested as at January 1, 2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;78,833&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;54.30&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;135,230 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;17.75&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Vested&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(78,833&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;54.30&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Unvested as at June 30, 2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;135,230 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;17.75 &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:286px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:124px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:160px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Unvested as at January 1, 2016&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;135,230&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;17.75&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;690,000 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&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:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;3.75 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Cancelled&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(3,185&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;17.75 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Vested&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(132,045&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;17.75 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Unvested as at June 30, 2016&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:124px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;690,000&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;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:160px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;3.75&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: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:331px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:234px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Six month period ended June 30, &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2016&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:331px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Income / (Loss) :&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Net income / (loss)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(105,197&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(81,696&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:6px;"&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;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Basic 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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Weighted average common shares outstanding, basic&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;34,347,332 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;43,880,713 &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:331px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Basic earnings / (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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(3.06) &amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(1.86) &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:331px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Effect of dilutive securities:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:331px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Weighted average common shares outstanding, diluted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;34,347,332 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;43,880,713 &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:331px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Diluted 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:17px;"&gt;&lt;div style="text-indent:133.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(3.06)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(1.86)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:331px;"&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:86px;"&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:86px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock>
  <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:314px;height:39px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;br/&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31, 2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30, 2016&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:314px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Pre-delivery Yard installments and Fair value adjustment&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;65,009&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;26,054&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;54,428&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;25,272&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Capitalized interest and finance costs&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;6,301&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;3,552&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Other capitalized costs &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;2,172&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1,014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;127,910&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;55,892&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:351px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Twelve month periods ending&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:351px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;17,689&lt;/font&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-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;17,647&lt;/font&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-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2019&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;18,534&lt;/font&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-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2020&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;21,439&lt;/font&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-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2021&lt;/font&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:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;21,973&lt;/font&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-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2022 and thereafter&lt;/font&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: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-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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;116,710&lt;/font&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:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total 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:18px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;213,992&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:14px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Excluding bareboat interest &lt;/font&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:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;51,259&lt;/font&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:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total lease commitments&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;162,733&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:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Lease commitments -&amp;#160;current portion&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;9,137&lt;/font&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-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Lease commitments -&amp;#160;non-current portion&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;153,596&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:281px;height:26px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31, 2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30, 2016&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:281px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:281px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;2,025,688&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;2,096,931&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:281px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Other fixed assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1,810&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1,848&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:281px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total 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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2,027,498&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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2,098,779&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:281px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(269,946&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(296,272&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:281px;height:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessels and other fixed assets, net&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border: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:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1,757,552&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1,802,507&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:114px;height:26px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31, 2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30, 2016&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:114px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Lubricants&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;7,438&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;7,273&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:114px;height:13px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Bunkers&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;6,809&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;9,609&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:114px;height:13px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;14,247&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;16,882&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfInventoryCurrentTableTextBlock>
  <us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock contextRef="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:340px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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: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: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:118px;"&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;&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:98px;"&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:340px;height:27px;"&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: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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:118px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;December 31, 2015&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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;June 30, 2016&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:340px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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: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:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&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:340px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Oceanbulk Maritime S.A. and its affiliates&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1,209&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;672&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:13px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Assets&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;&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1,209&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;672&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:340px;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: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:118px;"&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;&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:98px;"&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:340px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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: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:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;"&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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&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:340px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Interchart Shipping Inc. &lt;/font&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:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;8&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;125&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Combine Marine Ltd.&lt;/font&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: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:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;9&lt;/font&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:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Oceanbulk Maritime S.A. and its affiliates&lt;/font&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: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:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;33&lt;/font&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:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;29&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Management and Directors 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-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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;315&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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:340px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Managed Vessels of Oceanbulk Shipping LLC&lt;/font&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: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:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;7&lt;/font&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:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;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:340px;height:13px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Oceanbulk Sellers&lt;/font&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: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:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;50&lt;/font&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:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:13px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Liabilities&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;&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;422&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;415&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:340px;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: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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:118px;"&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-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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:98px;"&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:340px;height:34px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" 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:257px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Six month period ended &lt;br/&gt;June 30,&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2016&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:340px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Voyage expenses-Interchart &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(1,650) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(1,650) &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:340px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Executive directors consultancy 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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(317) &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;&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;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(248) &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:340px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Non-executive directors compensation &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(79) &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;&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;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(75) &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:340px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Office rent - Combine Marine Ltd. &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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: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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(17) &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:340px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Management fee expense - Maryville Maritime Inc.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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: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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Interest on Excel Vessel Bridge Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(220) &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;&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:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock>
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  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod contextRef="d12-9-16__SubsequentEventMember__ShareBasedCompensationAwardTrancheOne2017Member" decimals="0" unitRef="Shares">305000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod contextRef="d12-9-16__SubsequentEventMember" decimals="0" unitRef="Shares">345000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod>
  <us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet contextRef="FYm1Q4e__MediumTermNotesMember" decimals="-3" unitRef="USD">1677000</us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet>
  <us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet contextRef="FYp0Qp0e__MediumTermNotesMember" decimals="-3" unitRef="USD">1461000</us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet>
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  <us-gaap:LitigationSettlementAmount contextRef="d31-8-16__SpanishPortAuthoritiesFinesMember__StarCosmoMember__SubsequentEventMember" decimals="0" unitRef="Monetary">200000</us-gaap:LitigationSettlementAmount>
  <us-gaap:LitigationSettlementAmount contextRef="d31-3-15__SpanishPortAuthoritiesFinesMember__StarCosmoMember" decimals="0" unitRef="USD">67000</us-gaap:LitigationSettlementAmount>
  <us-gaap:LitigationSettlementAmount contextRef="d31-3-15__SpanishPortAuthoritiesFinesMember__StarCosmoMember" decimals="0" unitRef="Monetary">60000</us-gaap:LitigationSettlementAmount>
  <us-gaap:GainLossFromPriceRiskManagementActivity contextRef="FYm1YTD" decimals="-3" unitRef="USD">0</us-gaap:GainLossFromPriceRiskManagementActivity>
  <us-gaap:GainLossFromPriceRiskManagementActivity contextRef="FYp0YTD" decimals="-3" unitRef="USD">283000</us-gaap:GainLossFromPriceRiskManagementActivity>
  <us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet contextRef="FYm1Q4e__LongTermDebtMember" decimals="-3" unitRef="USD">14360000</us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet>
  <us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet contextRef="FYp0Qp0e__LongTermDebtMember" decimals="-3" unitRef="USD">9992000</us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet>
  <us-gaap:LongTermDebt contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">761597000</us-gaap:LongTermDebt>
  <us-gaap:DeferredFinanceCostsNet contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">9992000</us-gaap:DeferredFinanceCostsNet>
  <us-gaap:ForeignCurrencyExchangeRateTranslation1 contextRef="FYp0Qp0e__SpanishPortAuthoritiesFinesMember__StarCosmoMember" decimals="2" unitRef="purenodecimals">1.11</us-gaap:ForeignCurrencyExchangeRateTranslation1>
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  <us-gaap:LossContingencyEstimateOfPossibleLoss contextRef="FYp0Qp0e__SpanishPortAuthoritiesFinesMember__StarCosmoMember__MaximumMember" decimals="0" unitRef="Monetary">260000</us-gaap:LossContingencyEstimateOfPossibleLoss>
  <us-gaap:EscrowDeposit contextRef="i31-7-11__SpanishPortAuthoritiesFinesMember__StarCosmoMember" decimals="0" unitRef="USD">377000</us-gaap:EscrowDeposit>
  <us-gaap:EscrowDeposit contextRef="i31-7-11__SpanishPortAuthoritiesFinesMember__StarCosmoMember" decimals="0" unitRef="Monetary">340000</us-gaap:EscrowDeposit>
  <sblk:CashCollateralForPollutionRelease contextRef="d31-3-12__SpanishPortAuthoritiesFinesMember__StarCosmoMember" decimals="0" unitRef="Monetary">340000</sblk:CashCollateralForPollutionRelease>
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  <us-gaap:AssetImpairmentCharges contextRef="d01-01-2015to28-05-2015__MaidenVoyageIMember" decimals="-3" unitRef="USD">8282000</us-gaap:AssetImpairmentCharges>
  <us-gaap:DebtInstrumentCovenantCompliance contextRef="FYp0YTD">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. An 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. As such, as of December 31, 2015, $14,268 (which was the amount that could be made repayable under the SCR provisions by the lenders (or "SCR Shortfall Amount")) was reclassified as current portion of long-term debt within current liabilities. Apart from this, as of December 31, 2015, the Company was in compliance with the applicable financial and other covenants contained in its debt agreements, including the 2019 Notes.</us-gaap:DebtInstrumentCovenantCompliance>
  <us-gaap:LineOfCreditFacilityCovenantTerms contextRef="FYp0YTD">In addition, the Company's credit facilities contain financial covenants and undertakings requiring the Company to maintain various financial ratios, including:
- a minimum ratio of aggregate vessel value to loans secured ("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, 2015 and June 30, 2016 the Company was required to maintain minimum liquidity, not legally restricted, of $150,000 and $48,643, respectively, which is included within "Cash and cash equivalents" in the accompanying consolidated balance sheets. In addition, as of December 31, 2015 and June 30, 2016 the Company was required to maintain minimum liquidity, legally restricted, of $13,997 and $13,907, respectively, which is included within "Restricted cash" in the accompanying consolidated balance sheets.
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  <us-gaap:StockIssuedDuringPeriodValueAcquisitions contextRef="FYm1YTD" decimals="-3" unitRef="USD">19308000</us-gaap:StockIssuedDuringPeriodValueAcquisitions>
  <us-gaap:StockIssuedDuringPeriodValueAcquisitions contextRef="FYm1YTD__AdditionalPaidInCapitalMember" decimals="-3" unitRef="USD">19299000</us-gaap:StockIssuedDuringPeriodValueAcquisitions>
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  <us-gaap:StockIssuedDuringPeriodValueIssuedForServices contextRef="FYm1YTD" decimals="-3" unitRef="USD">519000</us-gaap:StockIssuedDuringPeriodValueIssuedForServices>
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  <sblk:NumberOfNewbuildingContractsTerminated contextRef="FYp0Qp0e__TwoNewbuildingContractsMember" decimals="0" unitRef="purenodecimals">2</sblk:NumberOfNewbuildingContractsTerminated>
  <us-gaap:DebtInstrumentCarryingAmount contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">771589000</us-gaap:DebtInstrumentCarryingAmount>
  <sblk:NumberOfNewbuildingContracts contextRef="FYp0Qp0e__FiveNewbuildingVesselsMember" decimals="0" unitRef="purenodecimals">5</sblk:NumberOfNewbuildingContracts>
  <sblk:VesselCapacity contextRef="FYp0Qp0e__NewbuildingVesselsMember" decimals="0" unitRef="purenodecimals">1040000</sblk:VesselCapacity>
  <sblk:VesselYearBuilt contextRef="FYp0YTD__HullNo1372Member">2016</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYp0YTD__StarLutasMember">2016</sblk:VesselYearBuilt>
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  <sblk:VesselYearBuilt contextRef="FYp0YTD__KennadiMember">2016</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYp0YTD__StarMarisaMember">2016</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYp0YTD__SerenityIMember">2006</sblk:VesselYearBuilt>
  <sblk:VesselCapacity contextRef="FYp0Qp0e__SerenityIMember" decimals="0" unitRef="purenodecimals">53688</sblk:VesselCapacity>
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  <us-gaap:DueToRelatedPartiesCurrent contextRef="FYp0Qp0e__OceanbulkMaritimeMember" decimals="-3" unitRef="USD">29000</us-gaap:DueToRelatedPartiesCurrent>
  <us-gaap:DueToRelatedPartiesCurrent contextRef="FYm1Q4e__OceanbulkMaritimeMember" decimals="-3" unitRef="USD">33000</us-gaap:DueToRelatedPartiesCurrent>
  <us-gaap:DueFromRelatedPartiesCurrent contextRef="FYp0Qp0e__OceanbulkMaritimeMember" decimals="-3" unitRef="USD">672000</us-gaap:DueFromRelatedPartiesCurrent>
  <us-gaap:DueFromRelatedPartiesCurrent contextRef="FYm1Q4e__OceanbulkMaritimeMember" decimals="-3" unitRef="USD">1209000</us-gaap:DueFromRelatedPartiesCurrent>
  <us-gaap:CapitalLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis contextRef="FYp0YTD">6-month LIBOR rate of 0.92415%</us-gaap:CapitalLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis>
  <us-gaap:MalpracticeInsuranceMaximumCoveragePerIncident contextRef="FYp0YTD" decimals="-3" unitRef="USD">1000000000</us-gaap:MalpracticeInsuranceMaximumCoveragePerIncident>
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  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber contextRef="FYm1Q4e" decimals="0" unitRef="Shares">135230</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2015to27-05-2015__DeepBlueMember__DVBDeepBlueFacilityMember" decimals="-3" unitRef="USD">28680000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="FYm2YTE__IndomitableMember__BNPFacilityMember" decimals="-3" unitRef="USD">32480000</us-gaap:ProceedsFromLinesOfCredit>
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  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod contextRef="d01-01-2016to09-05-2016__EquityIncentivePlan2016Member__ShareBasedCompensationAwardTrancheTwoMember" decimals="0" unitRef="Shares">40000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod contextRef="d01-01-2016to09-05-2016__EquityIncentivePlan2016Member__ShareBasedCompensationAwardTrancheOneMember" decimals="0" unitRef="Shares">650000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod contextRef="d01-01-2016to09-05-2016__EquityIncentivePlan2016Member" decimals="0" unitRef="Shares">690000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.starbulk.com/20160630/role/EquityIncentivePlanTable" id="EquityIncentivePlanTable">
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.starbulk.com/20160630/role/CommitmentsAndContingenciesTable" id="CommitmentsAndContingenciesTable">
        <link:definition>301700 - Disclosure - Commitments and Contingencies (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.starbulk.com/20160630/role/FairValueDisclosuresTable" id="FairValueDisclosuresTable">
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        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.starbulk.com/20160630/role/FairValueOfAcquiredTimeChartersTables" id="FairValueOfAboveBelowMarketAquiredTimeCharters">
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.starbulk.com/20160630/role/VesselsAndOtherFixedAssetsNetDetails" id="VesselsAndOtherFixedAssetsNetAdditionalInformationDetails">
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.starbulk.com/20160630/role/EquityIncentivePlanCompanysEquityIncentivePlansDetails" id="EquityIncentivePlanCompanysEquityIncentivePlansDetails">
        <link:definition>401220 - Disclosure - Equity Incentive Plans - Company's Equity Incentive Plans (Details)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.starbulk.com/20160630/role/SignificantAccountingPoliciesPolicy" id="SignificantAccountingPoliciesPolicy">
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.starbulk.com/20160630/role/InventoriesTables" id="InventoriesTables">
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.starbulk.com/20160630/role/InventoriesTableDetails" id="InventoriesTableDetails">
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        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.starbulk.com/20160630/role/SubsequentEventsDetails" id="SubsequentEventsAdditionalInformationDetails">
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        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.starbulk.com/20160630/role/FairValueDisclosuresAdditionalInformationDetails" id="FairValueDisclosuresAdditionalInformationDetails">
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        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.starbulk.com/20160630/role/SignificantAccountingPoliciesDetails" id="SignificantAccountingPoliciesDetails">
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.starbulk.com/20160630/role/CommitmentsAndContigenciesLegalDescriptionDetails" id="CommitmentsAndContigenciesLegalDescriptionDetails">
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        <link:usedOn>link:presentationLink</link:usedOn>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:presentationLink</link:usedOn>
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        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.starbulk.com/20160630/role/ManagementFeesTables" id="ManagementFeesTables">
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        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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  <element name="CapesizeVesselsMember" id="sblk_CapesizeVesselsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="CapitalizedCostsOther" id="sblk_CapitalizedCostsOther" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="CashCollateralForPollutionRelease" id="sblk_CashCollateralForPollutionRelease" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="CertainChangesOfControlEventsMember" id="sblk_CertainChangesOfControlEventsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="Charterer1Member" id="sblk_Charterer1Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="Charterer2Member" id="sblk_Charterer2Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="Charterer3Member" id="sblk_Charterer3Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="Charterer4Member" id="sblk_Charterer4Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ChiefExecutiveOfficerFirstInstallmentMember" id="sblk_ChiefExecutiveOfficerFirstInstallmentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ChristineMember" id="sblk_ChristineMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ChristineSandraAndLowlandsBeilunMember" id="sblk_ChristineSandraAndLowlandsBeilunMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ChristineShipcoLLCMember" id="sblk_ChristineShipcoLLCMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="CitiFacilityMember" id="sblk_CitiFacilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="CombineMarineLtdMember" id="sblk_CombineMarineLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="CommercialClaimMember" id="sblk_CommercialClaimMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="Commerzbank12000026000FacilitiesMember" id="sblk_Commerzbank12000026000FacilitiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="CommerzbankAg120000FacilitiyMember" id="sblk_CommerzbankAg120000FacilitiyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="CommerzbankAg26000FacilityMember" id="sblk_CommerzbankAg26000FacilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="CommerzbankAgAggregateFacilityMember" id="sblk_CommerzbankAgAggregateFacilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="CommerzbankAgAggregateFacilitySecondSupplementalMember" id="sblk_CommerzbankAgAggregateFacilitySecondSupplementalMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="CommerzbankAgAggregateFacilityThirdSupplementalMember" id="sblk_CommerzbankAgAggregateFacilityThirdSupplementalMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="CommisionsOnSaleOfAssets" id="sblk_CommisionsOnSaleOfAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="ConstructionCostPerVessel" id="sblk_ConstructionCostPerVessel" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="ConstructionCostPerVesselFinancedByLessor" id="sblk_ConstructionCostPerVesselFinancedByLessor" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="ConsultancyAgreementsMember" id="sblk_ConsultancyAgreementsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ConsultingAgreementsFollowingCompletionOfMergerMember" id="sblk_ConsultingAgreementsFollowingCompletionOfMergerMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ContractualObligationDue" id="sblk_ContractualObligationDue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="ConversionOfReceivablePercentageOfAmountConverted" id="sblk_ConversionOfReceivablePercentageOfAmountConverted" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="ConversionOfReceivablePercentageOfAmountPaidInCash" id="sblk_ConversionOfReceivablePercentageOfAmountPaidInCash" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="CovenantObligationMinimumLiquidFunds" id="sblk_CovenantObligationMinimumLiquidFunds" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="CreditAgricoleCorporateAndInvestmentBankMember" id="sblk_CreditAgricoleCorporateAndInvestmentBankMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="CreditAgricoleSwapsMember" id="sblk_CreditAgricoleSwapsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="CrossCollateralBareboatVesselsMember" id="sblk_CrossCollateralBareboatVesselsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="CyprusMember" id="sblk_CyprusMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DNB-SEB-CEXIMFacilityMember" id="sblk_DNB-SEB-CEXIMFacilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DNBFacilityMember" id="sblk_DNBFacilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DVBDeepBlueFacilityMember" id="sblk_DVBDeepBlueFacilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DVBFacilityMember" id="sblk_DVBFacilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DailyManagementFee" id="sblk_DailyManagementFee" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="DebtInstrumentCarryingAmountCurrentExcludingNotes" id="sblk_DebtInstrumentCarryingAmountCurrentExcludingNotes" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="DebtInstrumentCarryingAmountExcludingNotes" id="sblk_DebtInstrumentCarryingAmountExcludingNotes" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="DebtInstrumentCarryingAmountNonCurrentExcludingNotes" id="sblk_DebtInstrumentCarryingAmountNonCurrentExcludingNotes" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="DebtInstrumentCovenantAmountOfEquityToBeRaised" id="sblk_DebtInstrumentCovenantAmountOfEquityToBeRaised" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="DebtInstrumentPrepaymentAmount" id="sblk_DebtInstrumentPrepaymentAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="DebtInstrumentWaiverFeePercentage" id="sblk_DebtInstrumentWaiverFeePercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DeepBlueMember" id="sblk_DeepBlueMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DefiniteAgreementsMember" id="sblk_DefiniteAgreementsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DeliveryDateVessel" id="sblk_DeliveryDateVessel" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="DeutscheBankFacilityMember" id="sblk_DeutscheBankFacilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DeutscheBankMember" id="sblk_DeutscheBankMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DiorigaFacilityMember" id="sblk_DiorigaFacilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DirectorsMember" id="sblk_DirectorsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DocumentAndEntityInformationAbstract" id="sblk_DocumentAndEntityInformationAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="DryDockingCostsPolicyTextBlock" id="sblk_DryDockingCostsPolicyTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="EffectiveDateManagementAgreement" id="sblk_EffectiveDateManagementAgreement" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="EquityIncentivePlan2013Member" id="sblk_EquityIncentivePlan2013Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="EquityIncentivePlan2014Member" id="sblk_EquityIncentivePlan2014Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="EquityIncentivePlan2015Member" id="sblk_EquityIncentivePlan2015Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="EquityIncentivePlan2016Member" id="sblk_EquityIncentivePlan2016Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ExcelMaritimeCarriersLtdDefiniteAgreementsMember" id="sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ExcelMaritimeCarriersLtdMember" id="sblk_ExcelMaritimeCarriersLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ExcelTransactionsSoceAdjustmentsMember" id="sblk_ExcelTransactionsSoceAdjustmentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember" id="sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ExcelVesselBridgeFacilityIIIMember" id="sblk_ExcelVesselBridgeFacilityIIIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ExcelVesselBridgeFacilityIIMember" id="sblk_ExcelVesselBridgeFacilityIIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ExcelVesselBridgeFacilityMember" id="sblk_ExcelVesselBridgeFacilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ExcelVesselCITFacilityMember" id="sblk_ExcelVesselCITFacilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ExcelVesselsIIMember" id="sblk_ExcelVesselsIIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ExcelVesselsMember" id="sblk_ExcelVesselsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="FairValueAboveMarketAcquiredTimeChartersTextBlock" id="sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="FairValueAdjustmentMember" id="sblk_FairValueAdjustmentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="FairValueOfAbove-MarketAcquiredTimeChartersAbstract" id="sblk_FairValueOfAbove-MarketAcquiredTimeChartersAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="FairValueOfAboveMarketAcquiredTimeCharter" id="sblk_FairValueOfAboveMarketAcquiredTimeCharter" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="FinancedByNewYangzijiangOwnerMember" id="sblk_FinancedByNewYangzijiangOwnerMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="FinancedBySWSOwnerMember" id="sblk_FinancedBySWSOwnerMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="FinancedThroughBareboatCapitalLeaseArrangementsMember" id="sblk_FinancedThroughBareboatCapitalLeaseArrangementsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="FinancingHeronVesselsMember" id="sblk_FinancingHeronVesselsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="FinancingReceivableWriteOffs" id="sblk_FinancingReceivableWriteOffs" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="FirstFourInstallmentsMember" id="sblk_FirstFourInstallmentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="FirstFourteenInstallmentsMember" id="sblk_FirstFourteenInstallmentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="FirstInstallmentIIMember" id="sblk_FirstInstallmentIIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="FirstInstallmentMember" id="sblk_FirstInstallmentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="FirstPriorityMortgageMember" id="sblk_FirstPriorityMortgageMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="FiveNewbuildingVesselsMember" id="sblk_FiveNewbuildingVesselsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="FixForwardFloatingInterestRateForLiabilityMember" id="sblk_FixForwardFloatingInterestRateForLiabilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="FlatFeePerVessel" id="sblk_FlatFeePerVessel" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="FleetUtilizationAssumption" id="sblk_FleetUtilizationAssumption" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="FormerChiefExecutiveOfficerMember" id="sblk_FormerChiefExecutiveOfficerMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="FormerDirectorMember" id="sblk_FormerDirectorMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember" id="sblk_FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="FutureMinimumNonCancellableCharterRevenueMember" id="sblk_FutureMinimumNonCancellableCharterRevenueMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="GainFromInsuranceClaim" id="sblk_GainFromInsuranceClaim" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="GainFromWriteOffLiability" id="sblk_GainFromWriteOffLiability" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings" id="sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="GainLossOnSaleOfClaim" id="sblk_GainLossOnSaleOfClaim" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="GargantuaAndGoliathAndMaharajMember" id="sblk_GargantuaAndGoliathAndMaharajMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="GargantuaMember" id="sblk_GargantuaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="GoldmanSachsBankUSAMember" id="sblk_GoldmanSachsBankUSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="GoldmanSachsSwapsMember" id="sblk_GoldmanSachsSwapsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="GoliathAndMaharajMember" id="sblk_GoliathAndMaharajMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="GoliathMember" id="sblk_GoliathMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="GreeceMember" id="sblk_GreeceMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="GrossDailyCharterRate" id="sblk_GrossDailyCharterRate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="HN1080Member" id="sblk_HN1080Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HN1081Member" id="sblk_HN1081Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HN1082Member" id="sblk_HN1082Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HN1083Member" id="sblk_HN1083Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HN1312Member" id="sblk_HN1312Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HN1313Member" id="sblk_HN1313Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HN1359Member" id="sblk_HN1359Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HN1360Member" id="sblk_HN1360Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HN1361Member" id="sblk_HN1361Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HN1363Member" id="sblk_HN1363Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HN5055Member" id="sblk_HN5055Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HN5056Member" id="sblk_HN5056Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HNNE167Member" id="sblk_HNNE167Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HNNE184Member" id="sblk_HNNE184Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HSBCFacilityMember" id="sblk_HSBCFacilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HandlingFees" id="sblk_HandlingFees" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="HandymaxVesselsMember" id="sblk_HandymaxVesselsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HeldInEscrowForHeronVesselsMember" id="sblk_HeldInEscrowForHeronVesselsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HeronConvertibleLoanMember" id="sblk_HeronConvertibleLoanMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HeronTransactionSoceAdjustmentsMember" id="sblk_HeronTransactionSoceAdjustmentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HeronVenturesLtdMember" id="sblk_HeronVenturesLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HoneyBadgerMember" id="sblk_HoneyBadgerMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HoneyBadgerWolverineMember" id="sblk_HoneyBadgerWolverineMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HshNordbankAg3Member" id="sblk_HshNordbankAg3Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HshNordbankAg3SupplementalAgreementMember" id="sblk_HshNordbankAg3SupplementalAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HshNordbankAgMember" id="sblk_HshNordbankAgMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="Hull1338Member" id="sblk_Hull1338Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="Hull1339Member" id="sblk_Hull1339Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="Hull1342Member" id="sblk_Hull1342Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="Hull1343Member" id="sblk_Hull1343Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="Hull5040Member" id="sblk_Hull5040Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="Hull5043Member" id="sblk_Hull5043Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HullAndMachineryClaimMember" id="sblk_HullAndMachineryClaimMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HullNE196Member" id="sblk_HullNE196Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HullNE197Member" id="sblk_HullNE197Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HullNE198Member" id="sblk_HullNE198Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HullNo1371Member" id="sblk_HullNo1371Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="HullNo1372Member" id="sblk_HullNo1372Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="IdeeFixeMember" id="sblk_IdeeFixeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="IdeeFixeRobertaLauraKaleyStarMarisaStarLibraMember" id="sblk_IdeeFixeRobertaLauraKaleyStarMarisaStarLibraMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="IndomitableMember" id="sblk_IndomitableMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="InflationAssumption" id="sblk_InflationAssumption" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="InsuranceCoverageMaximumAmount" id="sblk_InsuranceCoverageMaximumAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="InterchartAcquisitionSharesIssuanceMember" id="sblk_InterchartAcquisitionSharesIssuanceMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="InterchartShippingIIMember" id="sblk_InterchartShippingIIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="InterchartShippingMember" id="sblk_InterchartShippingMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="InterchartSoceAdjustmentsMember" id="sblk_InterchartSoceAdjustmentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="InterestFinanceCostsTableTextBlock" id="sblk_InterestFinanceCostsTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="InterestRateDerivativeGainLossRealizedInEarningsNet" id="sblk_InterestRateDerivativeGainLossRealizedInEarningsNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="InterestRateSwap1Member" id="sblk_InterestRateSwap1Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="InterestRateSwap2Member" id="sblk_InterestRateSwap2Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="InterestRateSwapsMember" id="sblk_InterestRateSwapsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="Issuance50MillionNotesMember" id="sblk_Issuance50MillionNotesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue" id="sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="KaleyMember" id="sblk_KaleyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="KamsarmaxVesselsMember" id="sblk_KamsarmaxVesselsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="KennadiMember" id="sblk_KennadiMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="KoreaLineCorporationMember" id="sblk_KoreaLineCorporationMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="KymopoliaIMember" id="sblk_KymopoliaIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="LastFourInstallmentsMember" id="sblk_LastFourInstallmentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="LastSixteenInstallmentsMember" id="sblk_LastSixteenInstallmentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="LastTwentyInstallmentsMember" id="sblk_LastTwentyInstallmentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="LauraMember" id="sblk_LauraMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="LeaseAgreementsMaximumAmountToFinanceConstructionCost" id="sblk_LeaseAgreementsMaximumAmountToFinanceConstructionCost" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="LegalSettlementsSharesAcquired" id="sblk_LegalSettlementsSharesAcquired" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="LeviathanAndPeloreusMember" id="sblk_LeviathanAndPeloreusMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="LeviathanMember" id="sblk_LeviathanMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="LineOfCreditFacilityNumberOfRepaymentInstallment" id="sblk_LineOfCreditFacilityNumberOfRepaymentInstallment" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="ListNewbuildingsTableTextBlock" id="sblk_ListNewbuildingsTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="ListNonVesselOwningSubsidiaries" id="sblk_ListNonVesselOwningSubsidiaries" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="ListOfSubsidiariesTableTextBlock" id="sblk_ListOfSubsidiariesTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="ListVesselsUnderCommercialTechnicalManagementTableTextBlock" id="sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="LitigationSettlementPeriodicPayment" id="sblk_LitigationSettlementPeriodicPayment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="LossOffHire" id="sblk_LossOffHire" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="LowlandsBeilunMember" id="sblk_LowlandsBeilunMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="LubricantsExpense" id="sblk_LubricantsExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="LubricantsInventoryCurrent" id="sblk_LubricantsInventoryCurrent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="MackenzieMember" id="sblk_MackenzieMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="MadredeusAndAmamiMember" id="sblk_MadredeusAndAmamiMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="MadredeusIMember" id="sblk_MadredeusIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="MagnumOpusMember" id="sblk_MagnumOpusMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="MaharajMember" id="sblk_MaharajMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="MaidenVoyageIMember" id="sblk_MaidenVoyageIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ManagedVesselsOceanBulkShippingMember" id="sblk_ManagedVesselsOceanBulkShippingMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ManagementFeesTextBlock" id="sblk_ManagementFeesTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="MartoMember" id="sblk_MartoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="MaryvilleMaritimeIncMember" id="sblk_MaryvilleMaritimeIncMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="MediumtermNotesNoncurrentGross" id="sblk_MediumtermNotesNoncurrentGross" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="MegalodonMember" id="sblk_MegalodonMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="MercurialVirgoIMember" id="sblk_MercurialVirgoIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="MergerPappasTransaction2Member" id="sblk_MergerPappasTransaction2Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="MergerPappasTransactionMember" id="sblk_MergerPappasTransactionMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="MergerPappasTransactionSoceAdjustmentsMember" id="sblk_MergerPappasTransactionSoceAdjustmentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="MinimumLiquidFundsMember" id="sblk_MinimumLiquidFundsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="MinimumLiquidFundsPerVesselMember" id="sblk_MinimumLiquidFundsPerVesselMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="NIBCFacilityMember" id="sblk_NIBCFacilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="NetCashProceedsFromCertainAssetSalesMember" id="sblk_NetCashProceedsFromCertainAssetSalesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare" id="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare" type="num:perShareItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome" id="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="NewServicesAgreementMember" id="sblk_NewServicesAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="NewYangzijiangVesselsMember" id="sblk_NewYangzijiangVesselsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="NewbuildingVesselsMember" id="sblk_NewbuildingVesselsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="NewcastlemaxVesselsMember" id="sblk_NewcastlemaxVesselsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="NonExecutiveDirectorsCompensation" id="sblk_NonExecutiveDirectorsCompensation" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="NonExecutiveDirectorsMember" id="sblk_NonExecutiveDirectorsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="NumberOfDirectors" id="sblk_NumberOfDirectors" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="NumberOfInstallments" id="sblk_NumberOfInstallments" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="NumberOfLoanTranches" id="sblk_NumberOfLoanTranches" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="NumberOfNewbuildingContracts" id="sblk_NumberOfNewbuildingContracts" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="NumberOfNewbuildingContractsTerminated" id="sblk_NumberOfNewbuildingContractsTerminated" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="NumberOfVesselFinancedByDebtInstrument" id="sblk_NumberOfVesselFinancedByDebtInstrument" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="NumberOfVessels" id="sblk_NumberOfVessels" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="OaktreeMember" id="sblk_OaktreeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="OaktreeShareholdersAgreementMember" id="sblk_OaktreeShareholdersAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ObelixIMember" id="sblk_ObelixIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="OceanbulkIMember" id="sblk_OceanbulkIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="OceanbulkMaritimeMember" id="sblk_OceanbulkMaritimeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="OceanbulkMaritimeSoceAdjustmentsMember" id="sblk_OceanbulkMaritimeSoceAdjustmentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="OceanbulkSellersMember" id="sblk_OceanbulkSellersMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="OffHireDays" id="sblk_OffHireDays" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="OfficeRentMember" id="sblk_OfficeRentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="OperatingVesselsSoldAndDeliveredMember" id="sblk_OperatingVesselsSoldAndDeliveredMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="OperatingVesselsSoldButNotYetDeliveredMember" id="sblk_OperatingVesselsSoldButNotYetDeliveredMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="OtherComprehensiveIncomeLossAbstract" id="sblk_OtherComprehensiveIncomeLossAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="OtherOperationalGainTextBlock" id="sblk_OtherOperationalGainTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="OtherOperationalLossTextBlock" id="sblk_OtherOperationalLossTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="OtherVesselAcquisitionCosts" id="sblk_OtherVesselAcquisitionCosts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="PanamaxVesselsMember" id="sblk_PanamaxVesselsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="PantagruelIMember" id="sblk_PantagruelIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="PappasCompaniesMember" id="sblk_PappasCompaniesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="PaymentsForPostemploymentBenefitsShares" id="sblk_PaymentsForPostemploymentBenefitsShares" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="PaymentsToAcquireAboveMarketAcquiredTimeCharters" id="sblk_PaymentsToAcquireAboveMarketAcquiredTimeCharters" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="PeloreusMember" id="sblk_PeloreusMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="PendulumIMember" id="sblk_PendulumIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock" id="sblk_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="PercentOfQuarterlyInstallmentsDeferred" id="sblk_PercentOfQuarterlyInstallmentsDeferred" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="PercentageOfFutureProceedsSold" id="sblk_PercentageOfFutureProceedsSold" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="PeriodicPaymentsDeferredAmount" id="sblk_PeriodicPaymentsDeferredAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="PiraeusBankS.A.TermLoanBMember" id="sblk_PiraeusBankS.A.TermLoanBMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="PiraeusBankS.A.TermLoanMember" id="sblk_PiraeusBankS.A.TermLoanMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="PiraeusBankS.A.TermLoansMember" id="sblk_PiraeusBankS.A.TermLoansMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="PoolAgreementMember" id="sblk_PoolAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="PortCharges" id="sblk_PortCharges" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember" id="sblk_PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ProceedsFromCancellationOfVesselsUnderConstruction" id="sblk_ProceedsFromCancellationOfVesselsUnderConstruction" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="ProceedsReceivedOnTransferClaim" id="sblk_ProceedsReceivedOnTransferClaim" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="ProcurementServicesDailyFee" id="sblk_ProcurementServicesDailyFee" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="ProductShippingTradingMember" id="sblk_ProductShippingTradingMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="PurchasePriceObligation" id="sblk_PurchasePriceObligation" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="RebateAmount" id="sblk_RebateAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="RebateFromPreviousManningAgentMember" id="sblk_RebateFromPreviousManningAgentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ReceivableConvertibleConversionRatio" id="sblk_ReceivableConvertibleConversionRatio" type="xbrli:pureItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="ReceivablePercentageOfAmountPaidInCash" id="sblk_ReceivablePercentageOfAmountPaidInCash" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="ReceivableRefundAmount" id="sblk_ReceivableRefundAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="ReclassificationAdjustmentDueToSCRShortfallMember" id="sblk_ReclassificationAdjustmentDueToSCRShortfallMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="RehabilitationPlanMember" id="sblk_RehabilitationPlanMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="RelatedPartiesAgreementSaleOfVesselMember" id="sblk_RelatedPartiesAgreementSaleOfVesselMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="RelatedPartiesCommissionsFees" id="sblk_RelatedPartiesCommissionsFees" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="RenascentiaMember" id="sblk_RenascentiaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="RenewalConsultancyAgreementsMember" id="sblk_RenewalConsultancyAgreementsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="RentExpensePerMonth" id="sblk_RentExpensePerMonth" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="ResultsOfOperationsForCompaniesAcquiredTableTextBlock" id="sblk_ResultsOfOperationsForCompaniesAcquiredTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="RevenueExpenseRecognitionPolicyTextBlock" id="sblk_RevenueExpenseRecognitionPolicyTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="ReverseStockSplitMember" id="sblk_ReverseStockSplitMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="RobertaMember" id="sblk_RobertaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="RodonMember" id="sblk_RodonMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="SWSVesselsMember" id="sblk_SWSVesselsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="SaleLeasebackArrangementMember" id="sblk_SaleLeasebackArrangementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="SaleOfFutureClaimsProceeds" id="sblk_SaleOfFutureClaimsProceeds" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="SaleVesselsMember" id="sblk_SaleVesselsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="SandraMember" id="sblk_SandraMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock" id="sblk_ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="SchedulePurchasePriceAllocation1TableTextBlock" id="sblk_SchedulePurchasePriceAllocation1TableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="ScrapValuePerLightWeightTon" id="sblk_ScrapValuePerLightWeightTon" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="Second-priorityMortgageMember" id="sblk_Second-priorityMortgageMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="SecondInstallmentMember" id="sblk_SecondInstallmentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="SecondPriorityMortgageMember" id="sblk_SecondPriorityMortgageMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="SerenityIMember" id="sblk_SerenityIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ServicesAgreementAnnualLumpFeeRemuneration" id="sblk_ServicesAgreementAnnualLumpFeeRemuneration" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="ServicesAgreementDailyFeeRemunerationPerVessel" id="sblk_ServicesAgreementDailyFeeRemunerationPerVessel" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="ServicesAgreementMember" id="sblk_ServicesAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ServicesAgreementMonthlyLumpFeeRemuneration" id="sblk_ServicesAgreementMonthlyLumpFeeRemuneration" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="ServicesAgreementMonthlyLumpFeeRemunerationPerVessel" id="sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="SettlementAgreementWithIshharOverseasFZEMember" id="sblk_SettlementAgreementWithIshharOverseasFZEMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3" id="sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate" id="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate" type="xbrli:dateItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue" id="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue" type="num:perShareItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod" id="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVestedOptionsExercisedNumberOfShares" id="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVestedOptionsExercisedNumberOfShares" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="ShareBasedCompensationAwardTrancheOne2017Member" id="sblk_ShareBasedCompensationAwardTrancheOne2017Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsExercisedWeightedAverageGrantDateFairValue" id="sblk_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsExercisedWeightedAverageGrantDateFairValue" type="num:perShareItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="ShareholderAgreementDirectorsNominationRight" id="sblk_ShareholderAgreementDirectorsNominationRight" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="ShipProcurementServicesS.A.Member" id="sblk_ShipProcurementServicesS.A.Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ShipbuildingContractsTerminationMember" id="sblk_ShipbuildingContractsTerminationMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="SignificantCharterersMember" id="sblk_SignificantCharterersMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="SinosureFacilityMember" id="sblk_SinosureFacilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="SpanishPortAuthoritiesFinesMember" id="sblk_SpanishPortAuthoritiesFinesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarAlineMember" id="sblk_StarAlineMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarAlphaMember" id="sblk_StarAlphaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarAngelinaMember" id="sblk_StarAngelinaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarAngieMember" id="sblk_StarAngieMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarAntaresMember" id="sblk_StarAntaresMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarAquariusMember" id="sblk_StarAquariusMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarAriesMember" id="sblk_StarAriesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarAuroraMember" id="sblk_StarAuroraMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarBetaMember" id="sblk_StarBetaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarBigAndStarMegaMember" id="sblk_StarBigAndStarMegaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarBigMember" id="sblk_StarBigMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarBigStarMarthaStarPaulineStarDespoinaMember" id="sblk_StarBigStarMarthaStarPaulineStarDespoinaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarBorealisIIIMember" id="sblk_StarBorealisIIIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="StarBorealisIIMember" id="sblk_StarBorealisIIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarBorealisMember" id="sblk_StarBorealisMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarBulkCarriersCorporationAndBocimarInternationalNVAndGoldenOceanGroupLimitedAndCTransportHoldingLtdMember" id="sblk_StarBulkCarriersCorporationAndBocimarInternationalNVAndGoldenOceanGroupLimitedAndCTransportHoldingLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarChallenger1Member" id="sblk_StarChallenger1Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarChallengerMember" id="sblk_StarChallengerMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarChristiannaMember" id="sblk_StarChristiannaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarClaudiaMember" id="sblk_StarClaudiaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarCosmoMember" id="sblk_StarCosmoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarCosmoReducedAmountMember" id="sblk_StarCosmoReducedAmountMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarDanaiMember" id="sblk_StarDanaiMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarDeltaMember" id="sblk_StarDeltaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarEleonoraMember" id="sblk_StarEleonoraMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarEmilyMember" id="sblk_StarEmilyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarEpsilonAndStarKappa1Member" id="sblk_StarEpsilonAndStarKappa1Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarEpsilonMember" id="sblk_StarEpsilonMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarFighter1Member" id="sblk_StarFighter1Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarFighterMember" id="sblk_StarFighterMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarGammaAndStarCosmoMember" id="sblk_StarGammaAndStarCosmoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarGammaMember" id="sblk_StarGammaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarGeorgiaMember" id="sblk_StarGeorgiaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarGwynethMember" id="sblk_StarGwynethMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarHelenaMember" id="sblk_StarHelenaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarIrisMember" id="sblk_StarIrisMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarJenniferMember" id="sblk_StarJenniferMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember" id="sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarJuliaMember" id="sblk_StarJuliaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarKamilaMember" id="sblk_StarKamilaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarKappaMember" id="sblk_StarKappaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarKimMember" id="sblk_StarKimMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarLauraMember" id="sblk_StarLauraMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarLibraMember" id="sblk_StarLibraMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarLutasMember" id="sblk_StarLutasMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarMariaMember" id="sblk_StarMariaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarMariellaMember" id="sblk_StarMariellaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarMarisaMember" id="sblk_StarMarisaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarMarkelaMember" id="sblk_StarMarkelaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarMegaMember" id="sblk_StarMegaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarMicheleMember" id="sblk_StarMicheleMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarMicheleTwoNewbuildingContractsMember" id="sblk_StarMicheleTwoNewbuildingContractsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarMoiraMember" id="sblk_StarMoiraMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarMonikaMember" id="sblk_StarMonikaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarMorishaMember" id="sblk_StarMorishaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarNasiaMember" id="sblk_StarNasiaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarNatalieMember" id="sblk_StarNatalieMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarNicoleMember" id="sblk_StarNicoleMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember" id="sblk_StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarNinaMember" id="sblk_StarNinaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarOmicronMember" id="sblk_StarOmicronMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarPiscesMember" id="sblk_StarPiscesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarPolarisMember" id="sblk_StarPolarisMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarPoseidonMember" id="sblk_StarPoseidonMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarReneeMember" id="sblk_StarReneeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarSigma2Member" id="sblk_StarSigma2Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="StarSigmaAmountReceivedForFuelsMember" id="sblk_StarSigmaAmountReceivedForFuelsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarSigmaAmountReceivedInCashMember" id="sblk_StarSigmaAmountReceivedInCashMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarSigmaMember" id="sblk_StarSigmaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarSirius2Member" id="sblk_StarSirius2Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarSiriusStarVega2Member" id="sblk_StarSiriusStarVega2Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarSiriusStarVegaMember" id="sblk_StarSiriusStarVegaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarSophiaMember" id="sblk_StarSophiaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarTatiannaMember" id="sblk_StarTatiannaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarThetaMember" id="sblk_StarThetaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarVanessaMember" id="sblk_StarVanessaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarVega2Member" id="sblk_StarVega2Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarYpsilonMember" id="sblk_StarYpsilonMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarZetaMember" id="sblk_StarZetaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarbulkCarriersCorpMember" id="sblk_StarbulkCarriersCorpMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StarbulkSaMember" id="sblk_StarbulkSaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="StockIssuedDuringPeriodSharesNewIssuesExcelTransaction" id="sblk_StockIssuedDuringPeriodSharesNewIssuesExcelTransaction" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="StockIssuedDuringPeriodSharesNewIssuesHeronTransaction" id="sblk_StockIssuedDuringPeriodSharesNewIssuesHeronTransaction" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="StockIssuedDuringPeriodSharesNewIssuesInterchartTransaction" id="sblk_StockIssuedDuringPeriodSharesNewIssuesInterchartTransaction" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="StockIssuedDuringPeriodSharesNewIssuesMergerAndPappasTransaction" id="sblk_StockIssuedDuringPeriodSharesNewIssuesMergerAndPappasTransaction" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="StockIssuedDuringPeriodValueNewIssuesExcelTransaction" id="sblk_StockIssuedDuringPeriodValueNewIssuesExcelTransaction" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="StockIssuedDuringPeriodValueNewIssuesHeronTransaction" id="sblk_StockIssuedDuringPeriodValueNewIssuesHeronTransaction" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="StockIssuedDuringPeriodValueNewIssuesInterchartTransaction" id="sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="StockIssuedDuringPeriodValueNewIssuesMergerAndPappasTransaction" id="sblk_StockIssuedDuringPeriodValueNewIssuesMergerAndPappasTransaction" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="StockRepurchaseProgramMaximumSharePrice" id="sblk_StockRepurchaseProgramMaximumSharePrice" type="num:perShareItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="StockholdersEquityReverseStockSplitRatio" id="sblk_StockholdersEquityReverseStockSplitRatio" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="StrangeAttractorIMember" id="sblk_StrangeAttractorIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="SupervisionCosts" id="sblk_SupervisionCosts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="TerminationAgreementMember" id="sblk_TerminationAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="ThirdInstallmentMember" id="sblk_ThirdInstallmentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="TmtCoMember" id="sblk_TmtCoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="TonnageTax" id="sblk_TonnageTax" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="TotalContractualPurchaseObligation" id="sblk_TotalContractualPurchaseObligation" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="instant"/>
  <element name="TotalMember" id="sblk_TotalMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="Tranche1FirstFourInstallmentsMember" id="sblk_Tranche1FirstFourInstallmentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="Tranche1InstallmentFiveToEighteenMember" id="sblk_Tranche1InstallmentFiveToEighteenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="Tranche1InstallmentsFiveToSeventeenMember" id="sblk_Tranche1InstallmentsFiveToSeventeenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="Tranche1LastElevenInstallmentsMember" id="sblk_Tranche1LastElevenInstallmentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="Tranche1Member" id="sblk_Tranche1Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="Tranche2FirstFourInstallmentMember" id="sblk_Tranche2FirstFourInstallmentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="Tranche2LastTwentyFourInstallmentsMember" id="sblk_Tranche2LastTwentyFourInstallmentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="Tranche2Member" id="sblk_Tranche2Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="Tranche3Member" id="sblk_Tranche3Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="TrancheDMember" id="sblk_TrancheDMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="TsuEbisuMember" id="sblk_TsuEbisuMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="TwentyFourNewbuildingVesselsMember" id="sblk_TwentyFourNewbuildingVesselsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="TwoCompanyDirectorsMember" id="sblk_TwoCompanyDirectorsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="TwoDirectorsMember" id="sblk_TwoDirectorsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="TwoNewbuildingContractsMember" id="sblk_TwoNewbuildingContractsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="UltramaxVesselsMember" id="sblk_UltramaxVesselsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="UnrealizedMember" id="sblk_UnrealizedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="UpgradingExpense" id="sblk_UpgradingExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="VesselAcquisitionCommissionPercentage" id="sblk_VesselAcquisitionCommissionPercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="VesselAcquisitionContractPrice" id="sblk_VesselAcquisitionContractPrice" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="VesselCapacity" id="sblk_VesselCapacity" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="VesselGross" id="sblk_VesselGross" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="VesselNet" id="sblk_VesselNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="VesselOperatingExpensesTableTextBlock" id="sblk_VesselOperatingExpensesTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="VesselRedeliveryDate" id="sblk_VesselRedeliveryDate" type="xbrli:dateItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="VesselType" id="sblk_VesselType" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="VesselYearBuilt" id="sblk_VesselYearBuilt" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="VesselsAcquired" id="sblk_VesselsAcquired" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="VesselsAndAdvancesForVesselsUnderConstructionNet" id="sblk_VesselsAndAdvancesForVesselsUnderConstructionNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="VesselsAndOtherFixedAssetsNet" id="sblk_VesselsAndOtherFixedAssetsNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="VesselsDelivered" id="sblk_VesselsDelivered" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="VesselsHeldForSalePolicyTextBlock" id="sblk_VesselsHeldForSalePolicyTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="VesselsInOperationIIMember" id="sblk_VesselsInOperationIIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="VesselsInOperationsMember" id="sblk_VesselsInOperationsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="VesselsNet" id="sblk_VesselsNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
  <element name="VesselsNetMember" id="sblk_VesselsNetMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="VesselsSalesAgreementsMember" id="sblk_VesselsSalesAgreementsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="VesselsSalesMember" id="sblk_VesselsSalesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="VesselsSalvageValuePerLightWeightTon" id="sblk_VesselsSalvageValuePerLightWeightTon" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="VesselsSold" id="sblk_VesselsSold" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant"/>
  <element name="VesselsUnderConstructionMember" id="sblk_VesselsUnderConstructionMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="VoyageExpenses" id="sblk_VoyageExpenses" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="VoyageExpensesTableTextBlock" id="sblk_VoyageExpensesTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="VoyageRevenues" id="sblk_VoyageRevenues" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="credit" xbrli:periodType="duration"/>
  <element name="VoyageVesselOperatingExpensesTextBlock" id="sblk_VoyageVesselOperatingExpensesTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration"/>
  <element name="WolverineMember" id="sblk_WolverineMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
  <element name="WriteOffOfUnamortizedFairValueOfBelowMarketAcquiredTimeCharterOnVesselRedelivery" id="sblk_WriteOffOfUnamortizedFairValueOfBelowMarketAcquiredTimeCharterOnVesselRedelivery" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
  <element name="WriteOffOfUnamortizedTimeCharterTerminationDeferredRevenue" id="sblk_WriteOffOfUnamortizedTimeCharterTerminationDeferredRevenue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration"/>
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>6
<FILENAME>sblk-20160630_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by Fujitsu Interstage XWand B0217 -->
<linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink">
  <roleRef roleURI="http://www.starbulk.com/20160630/role/ConsolidatedBalanceSheet" xlink:type="simple" xlink:href="sblk-20160630.xsd#ConsolidatedBalanceSheets"/>
  <roleRef roleURI="http://www.starbulk.com/20160630/role/ConsolidatedStatementsOfOperations" xlink:type="simple" xlink:href="sblk-20160630.xsd#ConsolidatedStatementsOfOperations"/>
  <roleRef roleURI="http://www.starbulk.com/20160630/role/ConsolidatedStatementsOfCashFlows" xlink:type="simple" xlink:href="sblk-20160630.xsd#ConsolidatedStatementsOfCashFlows"/>
  <roleRef roleURI="http://www.starbulk.com/20160630/role/LongTermDebtTableDetails" xlink:type="simple" xlink:href="sblk-20160630.xsd#LongTermDebtTableDetails"/>
  <roleRef roleURI="http://www.starbulk.com/20160630/role/InventoriesTableDetails" xlink:type="simple" xlink:href="sblk-20160630.xsd#InventoriesTableDetails"/>
  <roleRef roleURI="http://www.starbulk.com/20160630/role/ConsolidatedStatementsOfComprehensiveIncomeLoss" xlink:type="simple" xlink:href="sblk-20160630.xsd#ConsolidatedStatementsOfComprehensiveIncomeLoss"/>
  <roleRef roleURI="http://www.starbulk.com/20160630/role/TransactionsWithRelatedPartiesExcelVesselBridgeFacilityTableDetails" xlink:type="simple" xlink:href="sblk-20160630.xsd#TransactionsWithRelatedPartiesExcelVesselBridgeFacilityTableDetails"/>
  <roleRef roleURI="http://www.starbulk.com/20160630/role/LongTermDebtInterestAndFinanceCostsTableDetails" xlink:type="simple" xlink:href="sblk-20160630.xsd#LongTermDebtInterestAndFinanceCostsTableDetails"/>
  <roleRef roleURI="http://www.starbulk.com/20160630/role/FairValueMeasurementsStatementOfOperations" xlink:type="simple" xlink:href="sblk-20160630.xsd#FairValueMeasurementsStatementOfOperations"/>
  <roleRef roleURI="http://www.starbulk.com/20160630/role/CommitmentsContingenciesContractualObligations" xlink:type="simple" xlink:href="sblk-20160630.xsd#CommitmentsContingenciesContractualObligations"/>
  <roleRef roleURI="http://www.starbulk.com/20160630/role/VesselsAndOtherFixedAssetsNetCapitalLeasesTableDetails" xlink:type="simple" xlink:href="sblk-20160630.xsd#VesselsAndOtherFixedAssetsNetCapitalLeasesTableDetails"/>
  <roleRef roleURI="http://www.starbulk.com/20160630/role/VesselsAndOtherFixedAssetsNetTableDetails" xlink:type="simple" xlink:href="sblk-20160630.xsd#VesselsAndOtherFixedAssetsNetTableDetails"/>
  <roleRef roleURI="http://www.starbulk.com/20160630/role/AdvancesForVesselsAcquisitionsTableDetails" xlink:type="simple" xlink:href="sblk-20160630.xsd#AdvancesForVesselsAcquisitionsTableDetails"/>
  <roleRef roleURI="http://www.starbulk.com/20160630/role/EstimatedFairValuesSignificantAssetsAcquiredLiabilitiesAssumedOnAcquisition" xlink:type="simple" xlink:href="sblk-20160630.xsd#CharterersWithMoreThanTenPercent"/>
  <roleRef roleURI="http://www.starbulk.com/20160630/role/FairValueNonRecurringBasis" xlink:type="simple" xlink:href="sblk-20160630.xsd#FairValueNonRecurringBasis"/>
  <calculationLink xlink:type="extended" xlink:role="http://www.starbulk.com/20160630/role/ConsolidatedBalanceSheet">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="us-gaap_AssetsCurrent"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_AssetsCurrent" use="optional" order="1.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue" use="optional" order="1.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" use="optional" order="2.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="us-gaap_AccountsReceivableNetCurrent"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_AccountsReceivableNetCurrent" use="optional" order="3.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InventoryNet" xlink:label="us-gaap_InventoryNet"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_InventoryNet" use="optional" order="4.0" weight="1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherReceivablesNetCurrent" xlink:label="us-gaap_OtherReceivablesNetCurrent"/>
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</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>7
<FILENAME>sblk-20160630_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by Fujitsu Interstage XWand B0217 -->
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>8
<FILENAME>sblk-20160630_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by Fujitsu Interstage XWand B0217 -->
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    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName"/>
    <label xlink:type="resource" xlink:label="dei_EntityRegistrantName_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Enity Registrant Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers"/>
    <label xlink:type="resource" xlink:label="dei_EntityVoluntaryFilers_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Entity Voluntary Filers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer"/>
    <label xlink:type="resource" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Entity Well Known Seasoned Issuer</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <label xlink:type="resource" xlink:label="dei_LegalEntityAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Legal Entity [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="dei_LegalEntityAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol"/>
    <label xlink:type="resource" xlink:label="dei_TradingSymbol_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trading Symbol</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl"/>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ABNFacilityMember" xlink:label="sblk_ABNFacilityMember"/>
    <label xlink:type="resource" xlink:label="sblk_ABNFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The credit facility ABN $87,458.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">ABN Facility [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_ABNFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">ABN $87,458 Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ABYOAudreyMember" xlink:label="sblk_ABYOAudreyMember"/>
    <label xlink:type="resource" xlink:label="sblk_ABYOAudreyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">ABYO Audrey [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">ABYO Audrey</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ABYOOprahMember" xlink:label="sblk_ABYOOprahMember"/>
    <label xlink:type="resource" xlink:label="sblk_ABYOOprahMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">ABYO Oprah [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">ABYO Oprah</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AbnAmroBankMember" xlink:label="sblk_AbnAmroBankMember"/>
    <label xlink:type="resource" xlink:label="sblk_AbnAmroBankMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The credit facility ABN Amro Bank N.V. $31,000.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Abn Amro Bank [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_AbnAmroBankMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">ABN Amro Bank N.V. $31,000 facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AboveMarketLeasesIIMember" xlink:label="sblk_AboveMarketLeasesIIMember"/>
    <label xlink:type="resource" xlink:label="sblk_AboveMarketLeasesIIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Leases acquired at above market lease rates.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Above Market Leases II [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_AboveMarketLeasesIIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Above market time charters</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AccountsReceivableCollectionPeriod" xlink:label="sblk_AccountsReceivableCollectionPeriod"/>
    <label xlink:type="resource" xlink:label="sblk_AccountsReceivableCollectionPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">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>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accounts Receivable Collection Period</label>
    <label xlink:type="resource" xlink:label="sblk_AccountsReceivableCollectionPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Collection period</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AccruedAuditFeesCurrent" xlink:label="sblk_AccruedAuditFeesCurrent"/>
    <label xlink:type="resource" xlink:label="sblk_AccruedAuditFeesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">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>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accrued Audit Fees Current</label>
    <label xlink:type="resource" xlink:label="sblk_AccruedAuditFeesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Audit fees</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AccruedLegalFeesCurrent" xlink:label="sblk_AccruedLegalFeesCurrent"/>
    <label xlink:type="resource" xlink:label="sblk_AccruedLegalFeesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">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>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accrued Legal Fees Current</label>
    <label xlink:type="resource" xlink:label="sblk_AccruedLegalFeesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Legal fees</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AccruedLoanInterestAndFinancingFeesCurrent" xlink:label="sblk_AccruedLoanInterestAndFinancingFeesCurrent"/>
    <label xlink:type="resource" xlink:label="sblk_AccruedLoanInterestAndFinancingFeesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">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>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accrued Loan Interest And Financing Fees</label>
    <label xlink:type="resource" xlink:label="sblk_AccruedLoanInterestAndFinancingFeesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Loan interest and financing fees</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AccruedOperatingAndVoyageExpensesCurrent" xlink:label="sblk_AccruedOperatingAndVoyageExpensesCurrent"/>
    <label xlink:type="resource" xlink:label="sblk_AccruedOperatingAndVoyageExpensesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">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>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accrued Operating And Voyage Expenses</label>
    <label xlink:type="resource" xlink:label="sblk_AccruedOperatingAndVoyageExpensesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessel operating and voyage expenses</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AccruedProfessionalFeesOtherCurrent" xlink:label="sblk_AccruedProfessionalFeesOtherCurrent"/>
    <label xlink:type="resource" xlink:label="sblk_AccruedProfessionalFeesOtherCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">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>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accrued Professional Fees Other Current</label>
    <label xlink:type="resource" xlink:label="sblk_AccruedProfessionalFeesOtherCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Other professional fees</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases" xlink:label="sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases"/>
    <label xlink:type="resource" xlink:label="sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Accumulated amount of advances related with the acquisition of vessels, bareboats, etc.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accumulated Advances For Vessels Under Capital Leases</label>
    <label xlink:type="resource" xlink:label="sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Bareboat capital leases - upfront hire &amp; handling fees</label>
    <label xlink:type="resource" xlink:label="sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Bareboat capital leases - upfront hire &amp; handling fees</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AccumulatedAssetImpairmentCharges" xlink:label="sblk_AccumulatedAssetImpairmentCharges"/>
    <label xlink:type="resource" xlink:label="sblk_AccumulatedAssetImpairmentCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">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>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accumulated Asset Impairment Charges</label>
    <label xlink:type="resource" xlink:label="sblk_AccumulatedAssetImpairmentCharges_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Impairment charge</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AccumulatedCapitalizedInterestAndFinanceCosts" xlink:label="sblk_AccumulatedCapitalizedInterestAndFinanceCosts"/>
    <label xlink:type="resource" xlink:label="sblk_AccumulatedCapitalizedInterestAndFinanceCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of accumulated interest and finance costs as part of vessels under construction and acquisitions cost basis.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accumulated Capitalized Interest And Finance Costs</label>
    <label xlink:type="resource" xlink:label="sblk_AccumulatedCapitalizedInterestAndFinanceCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Capitalized interest and finance costs</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AccumulatedPreDeliveryYardInstallments" xlink:label="sblk_AccumulatedPreDeliveryYardInstallments"/>
    <label xlink:type="resource" xlink:label="sblk_AccumulatedPreDeliveryYardInstallments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Accumulated amount of pre-delivery installments to the yard, for vessels under construction.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accumulated Pre Delivery Yard Installments</label>
    <label xlink:type="resource" xlink:label="sblk_AccumulatedPreDeliveryYardInstallments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Pre-delivery Yard installments and Fair value adjustment</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AccumulatedUpfrontHireAndHandlingFees" xlink:label="sblk_AccumulatedUpfrontHireAndHandlingFees"/>
    <label xlink:type="resource" xlink:label="sblk_AccumulatedUpfrontHireAndHandlingFees_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Accumulated amount of upfront hire &amp; handling fees for vessels under capital leases.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accumulated Upfront Hire And Handling Fees</label>
    <label xlink:type="resource" xlink:label="sblk_AccumulatedUpfrontHireAndHandlingFees_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Bareboat capital leases - upfront hire &amp; handling fees</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AdditionalPaymentsToAcquirePropertyPlantEquipment" xlink:label="sblk_AdditionalPaymentsToAcquirePropertyPlantEquipment"/>
    <label xlink:type="resource" xlink:label="sblk_AdditionalPaymentsToAcquirePropertyPlantEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The additional cash outflow  associated with the acquisition of property, plant and equipment.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Additional Payments To Acquire Property Plant And Equipment</label>
    <label xlink:type="resource" xlink:label="sblk_AdditionalPaymentsToAcquirePropertyPlantEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Additional payments to acquire property plant and equipment</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AddressCommissionPercentage" xlink:label="sblk_AddressCommissionPercentage"/>
    <label xlink:type="resource" xlink:label="sblk_AddressCommissionPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Commission payable by the shipowner to the charterer, expressed as a percentage of the freight or hire.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Address Commission Percentage</label>
    <label xlink:type="resource" xlink:label="sblk_AddressCommissionPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Address commission</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AdvancePaymentForVesselDisposal" xlink:label="sblk_AdvancePaymentForVesselDisposal"/>
    <label xlink:type="resource" xlink:label="sblk_AdvancePaymentForVesselDisposal_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of advance payment for vessel disposal.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Advance Payment For Vessel Disposal</label>
    <label xlink:type="resource" xlink:label="sblk_AdvancePaymentForVesselDisposal_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Advances from sale of vessel</label>
    <label xlink:type="resource" xlink:label="sblk_AdvancePaymentForVesselDisposal_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Advances from sale of vessel (Note 5)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AdvancesForSecondhandVessels" xlink:label="sblk_AdvancesForSecondhandVessels"/>
    <label xlink:type="resource" xlink:label="sblk_AdvancesForSecondhandVessels_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Discloses the period end balance amount of advances for Secondhand vessels.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Advances For Secondhand Vessels</label>
    <label xlink:type="resource" xlink:label="sblk_AdvancesForSecondhandVessels_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Advances for secondhand vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AdvancesForVesselUnderConstructionMember" xlink:label="sblk_AdvancesForVesselUnderConstructionMember"/>
    <label xlink:type="resource" xlink:label="sblk_AdvancesForVesselUnderConstructionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Advances For Vessel Under Construction [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Advances for vessels under construction</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AdvancesForVesselsAcquisitionsTableTextBlock" xlink:label="sblk_AdvancesForVesselsAcquisitionsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="sblk_AdvancesForVesselsAcquisitionsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure for advances paid to yard and capitalized expenses for the acquisition of vessels.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Advances For Vessels Acquisitions [Table Text Block]</label>
    <label xlink:type="resource" xlink:label="sblk_AdvancesForVesselsAcquisitionsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Advances for vessels under construction and acquisition of vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AdvancesForVesselsAcquisitionsTextBlock" xlink:label="sblk_AdvancesForVesselsAcquisitionsTextBlock"/>
    <label xlink:type="resource" xlink:label="sblk_AdvancesForVesselsAcquisitionsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The entire disclosure for advances paid to yards and capitalized expenses for acquisition of vessels.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Advances For Vessels Acquisitions [Text Block]</label>
    <label xlink:type="resource" xlink:label="sblk_AdvancesForVesselsAcquisitionsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Advances for vessels under construction and acquisition of vessels:</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AdvancesForVesselsUnderCapitalLeases" xlink:label="sblk_AdvancesForVesselsUnderCapitalLeases"/>
    <label xlink:type="resource" xlink:label="sblk_AdvancesForVesselsUnderCapitalLeases_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The cash outflow associated with the acquisition of vessels, bareboats, etc.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Advances For Vessels Under Capital Leases</label>
    <label xlink:type="resource" xlink:label="sblk_AdvancesForVesselsUnderCapitalLeases_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Bareboat capital leases - upfront hire &amp; handling fees</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AdvancesForVesselsUnderConstructionAcquisitionVesselsOtherAssetsAbstract" xlink:label="sblk_AdvancesForVesselsUnderConstructionAcquisitionVesselsOtherAssetsAbstract"/>
    <label xlink:type="resource" xlink:label="sblk_AdvancesForVesselsUnderConstructionAcquisitionVesselsOtherAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Advances for vessels under construction and acquisition of vessels and other assets [Abstract]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Advances for vessels under construction and acquisition of vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract" xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract"/>
    <label xlink:type="resource" xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Advances for vessels under construction and acquisition of vessels [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract" xlink:to="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember" xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember"/>
    <label xlink:type="resource" xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Advances for vessels under construction and acquisition of vessels.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Advances For Vessels Under Construction And Acquisition Of Vessels [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Advances for vessels under construction and acquisition of vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsVesselsDelivered" xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsVesselsDelivered"/>
    <label xlink:type="resource" xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsVesselsDelivered_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The value of vessels under construction delivered in the period.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Advances For Vessels Under Construction And Acquisition Of Vessels Vessels Delivered</label>
    <label xlink:type="resource" xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsVesselsDelivered_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessels delivered (Note 5)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AdvancesForVesselsUnderConstructionPolicyTextBlock" xlink:label="sblk_AdvancesForVesselsUnderConstructionPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="sblk_AdvancesForVesselsUnderConstructionPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Disclosure of accounting policy for advances for vessels under construction.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Advances For Vessels Under Construction [Policy Text Block]</label>
    <label xlink:type="resource" xlink:label="sblk_AdvancesForVesselsUnderConstructionPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Advances for vessels under construction</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AfterDe-designationOfAccountingHedgingRelationshipMember" xlink:label="sblk_AfterDe-designationOfAccountingHedgingRelationshipMember"/>
    <label xlink:type="resource" xlink:label="sblk_AfterDe-designationOfAccountingHedgingRelationshipMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">After De-designation Of Accounting Hedging Relationship [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">After de-designation of accounting hedging relationship (April 1, 2015)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AggregateConsiderationTransferredForPurchaseVessels" xlink:label="sblk_AggregateConsiderationTransferredForPurchaseVessels"/>
    <label xlink:type="resource" xlink:label="sblk_AggregateConsiderationTransferredForPurchaseVessels_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Aggregate consideration transferred for the purchase of vessels.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Aggregate Consideration Transferred For Purchase Vessels</label>
    <label xlink:type="resource" xlink:label="sblk_AggregateConsiderationTransferredForPurchaseVessels_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Contracted purchase price</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice" xlink:label="sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice"/>
    <label xlink:type="resource" xlink:label="sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The aggregate reduction of the purchase price of vessels under construction.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Aggregate Reduction Of Vessels Under Construction Purchase Price</label>
    <label xlink:type="resource" xlink:label="sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Aggregate reduction of the purchase price of certain of the newbuilding vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AgreedExtraCostsForNewbuildings" xlink:label="sblk_AgreedExtraCostsForNewbuildings"/>
    <label xlink:type="resource" xlink:label="sblk_AgreedExtraCostsForNewbuildings_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of agreed extra costs for newbuilding vessels.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Agreed Extra Costs For Newbuildings</label>
    <label xlink:type="resource" xlink:label="sblk_AgreedExtraCostsForNewbuildings_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Agreed extra costs for newbuildings</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AmamiIMember" xlink:label="sblk_AmamiIMember"/>
    <label xlink:type="resource" xlink:label="sblk_AmamiIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Amami.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Amami I [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_AmamiIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Amami</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter" xlink:label="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter"/>
    <label xlink:type="resource" xlink:label="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amortization of the asset arising from the market value of the time charter assumed from a vessel acquisition.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter" xlink:to="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Amortization Of Fair Value Of Above Market Acquired Time Charter</label>
    <label xlink:type="resource" xlink:label="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Amortization</label>
    <label xlink:type="resource" xlink:label="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Amortization of fair value of above market acquired time charters (Note 7)</label>
    <label xlink:type="resource" xlink:label="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Amortization</label>
    <label xlink:type="resource" xlink:label="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xml:lang="en-US">Amortization of fair value of above market acquired time charters (Note 7)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AmountDrawnDown" xlink:label="sblk_AmountDrawnDown"/>
    <label xlink:type="resource" xlink:label="sblk_AmountDrawnDown_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of loan that has been drawn down.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Amount Drawn Down</label>
    <label xlink:type="resource" xlink:label="sblk_AmountDrawnDown_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Amount drawn down</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AmountUsedForPrepaymentOfDebt" xlink:label="sblk_AmountUsedForPrepaymentOfDebt"/>
    <label xlink:type="resource" xlink:label="sblk_AmountUsedForPrepaymentOfDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of cash outflow for prepayment of an obligation from a lender.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Amount Used For Prepayment Of Debt</label>
    <label xlink:type="resource" xlink:label="sblk_AmountUsedForPrepaymentOfDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Prepayments of lines of credit</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ArbitrationProceedingsMember" xlink:label="sblk_ArbitrationProceedingsMember"/>
    <label xlink:type="resource" xlink:label="sblk_ArbitrationProceedingsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Arbitration Proceedings [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Arbitration proceedings</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AssetsFairValueAdjustmentAccumulated" xlink:label="sblk_AssetsFairValueAdjustmentAccumulated"/>
    <label xlink:type="resource" xlink:label="sblk_AssetsFairValueAdjustmentAccumulated_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">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>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Assets Fair Value Adjustment Accumulated</label>
    <label xlink:type="resource" xlink:label="sblk_AssetsFairValueAdjustmentAccumulated_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fair value adjustment</label>
    <label xlink:type="resource" xlink:label="sblk_AssetsFairValueAdjustmentAccumulated_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair value adjustment (Notes 1 and 5)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AstakosMember" xlink:label="sblk_AstakosMember"/>
    <label xlink:type="resource" xlink:label="sblk_AstakosMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Astakos.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Astakos [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_AstakosMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Astakos</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_AverageClosingMarketPrice" xlink:label="sblk_AverageClosingMarketPrice"/>
    <label xlink:type="resource" xlink:label="sblk_AverageClosingMarketPrice_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The average closing market price as determined over a period of time.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Average Closing Market Price</label>
    <label xlink:type="resource" xlink:label="sblk_AverageClosingMarketPrice_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Average closing market price</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BNPCommittedTermSheetMember" xlink:label="sblk_BNPCommittedTermSheetMember"/>
    <label xlink:type="resource" xlink:label="sblk_BNPCommittedTermSheetMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The commited term sheet with the bank BNP Paribas.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">BNP Committed Term Sheet [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_BNPCommittedTermSheetMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">BNP $39,500 Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BNPFacilityMember" xlink:label="sblk_BNPFacilityMember"/>
    <label xlink:type="resource" xlink:label="sblk_BNPFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The credit facility BNP $32,480.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">BNP Facility [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_BNPFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">BNP $32,480 Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BareboatCapitalLeasesMember" xlink:label="sblk_BareboatCapitalLeasesMember"/>
    <label xlink:type="resource" xlink:label="sblk_BareboatCapitalLeasesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The bareboat capital leases - upfront hire &amp; handling fees.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Bareboat Capital Leases [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_BareboatCapitalLeasesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Bareboat capital leases - upfront hire &amp; handling fees (3)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BareboatCommitmentsCharterHireMember" xlink:label="sblk_BareboatCommitmentsCharterHireMember"/>
    <label xlink:type="resource" xlink:label="sblk_BareboatCommitmentsCharterHireMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The bareboat commitments charter hire.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Bareboat Commitments Charter Hire [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_BareboatCommitmentsCharterHireMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Bareboat commitments charter hire (4)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BeforeHedgingDesginationMember" xlink:label="sblk_BeforeHedgingDesginationMember"/>
    <label xlink:type="resource" xlink:label="sblk_BeforeHedgingDesginationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Before Hedging Desgination [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Before hedging designation (August 31, 2014)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BehemothMember" xlink:label="sblk_BehemothMember"/>
    <label xlink:type="resource" xlink:label="sblk_BehemothMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Behemoth [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Behemoth</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BenefialOwnershipOf40OrMoreMember" xlink:label="sblk_BenefialOwnershipOf40OrMoreMember"/>
    <label xlink:type="resource" xlink:label="sblk_BenefialOwnershipOf40OrMoreMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Beneficial Ownership Of 40% Or More [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Beneficial Ownership Of 40% Or More</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BeneficialOwnershipOf15OrMoreMember" xlink:label="sblk_BeneficialOwnershipOf15OrMoreMember"/>
    <label xlink:type="resource" xlink:label="sblk_BeneficialOwnershipOf15OrMoreMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Beneficial Ownership Of 15% Or More [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Beneficial Ownership of 15% but less than 25%</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BeneficialOwnershipOf25OrMoreMember" xlink:label="sblk_BeneficialOwnershipOf25OrMoreMember"/>
    <label xlink:type="resource" xlink:label="sblk_BeneficialOwnershipOf25OrMoreMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Beneficial Ownership Of 25% Or More [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Beneficial Ownership of 25% but less than 40%</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BeneficialOwnershipOf5OrMoreMember" xlink:label="sblk_BeneficialOwnershipOf5OrMoreMember"/>
    <label xlink:type="resource" xlink:label="sblk_BeneficialOwnershipOf5OrMoreMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Beneficial Ownership Of 5% Or More [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Beneficial Ownership of 5% but less than 15%</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BigBangIMember" xlink:label="sblk_BigBangIMember"/>
    <label xlink:type="resource" xlink:label="sblk_BigBangIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Big Bang.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Big Bang I [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_BigBangIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Big Bang</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BigFishIMember" xlink:label="sblk_BigFishIMember"/>
    <label xlink:type="resource" xlink:label="sblk_BigFishIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Big Fish.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Big Fish I [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_BigFishIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Big Fish</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BrokerageCommissionPercentage" xlink:label="sblk_BrokerageCommissionPercentage"/>
    <label xlink:type="resource" xlink:label="sblk_BrokerageCommissionPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The commission charged by brokers, as a percentage of the agreed price.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Brokerage Commission Percentage</label>
    <label xlink:type="resource" xlink:label="sblk_BrokerageCommissionPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Brokerage commission</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BrunoMarksMember" xlink:label="sblk_BrunoMarksMember"/>
    <label xlink:type="resource" xlink:label="sblk_BrunoMarksMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Bruno Marks [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Bruno Marks</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BunkerInventoryCurrent" xlink:label="sblk_BunkerInventoryCurrent"/>
    <label xlink:type="resource" xlink:label="sblk_BunkerInventoryCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Carrying amount as of the balance sheet date of bunker's inventory.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Bunker Inventory Current</label>
    <label xlink:type="resource" xlink:label="sblk_BunkerInventoryCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Bunkers</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BusinessAcquisitionProFormaEarningsPerShareBasicDiluted" xlink:label="sblk_BusinessAcquisitionProFormaEarningsPerShareBasicDiluted"/>
    <label xlink:type="resource" xlink:label="sblk_BusinessAcquisitionProFormaEarningsPerShareBasicDiluted_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">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>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Pro Forma Earnings Per Share Basic And Diluted</label>
    <label xlink:type="resource" xlink:label="sblk_BusinessAcquisitionProFormaEarningsPerShareBasicDiluted_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Pro forma loss per share, basic and diluted</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BusinessCombinationAdjustmentsMember" xlink:label="sblk_BusinessCombinationAdjustmentsMember"/>
    <label xlink:type="resource" xlink:label="sblk_BusinessCombinationAdjustmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Combination Adjustments [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Business combination adjustments</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross" xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross"/>
    <label xlink:type="resource" xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of structure or a modification to a structure under construction, acquired at the acquisition date.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Construction In Progress Gross</label>
    <label xlink:type="resource" xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Advances for vessel acquisition and vessels under construction</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites" xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites"/>
    <label xlink:type="resource" xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">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>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Current liabilities, excluding current portion of long term bank debt and derivative financial liabilities</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter" xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter"/>
    <label xlink:type="resource" xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The asset arising from the above market value of the time charter contract assumed from a vessel acquisition.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fair value of above market acquired charters</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt" xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt"/>
    <label xlink:type="resource" xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of long-term debt, assumed at the acquisition date.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Long Term Debt</label>
    <label xlink:type="resource" xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Long-term debt, including current portion</label>
    <label xlink:type="resource" xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Long term debt assumed after business combination</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash" xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash"/>
    <label xlink:type="resource" xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of restricetd cash acquired at the acquisition date.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Restricted Cash</label>
    <label xlink:type="resource" xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Restricted cash</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet" xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet"/>
    <label xlink:type="resource" xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">This element represents vessels net of accumulated depreciation recognized as of the acquisition date.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Combination Recognized Identifiable Assets Acquired Liabilities Assumed Vessels Net</label>
    <label xlink:type="resource" xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CEXIMFacilityMember" xlink:label="sblk_CEXIMFacilityMember"/>
    <label xlink:type="resource" xlink:label="sblk_CEXIMFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The credit facility CEXIM $57,360.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">CEXIM Facility [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_CEXIMFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">CEXIM $57,360 Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CSSCFirstVesselMember" xlink:label="sblk_CSSCFirstVesselMember"/>
    <label xlink:type="resource" xlink:label="sblk_CSSCFirstVesselMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The First CSSC Vessel.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">CSSC First Vessel [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_CSSCFirstVesselMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">CSSC First Vessel</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CSSCSecondVesselMember" xlink:label="sblk_CSSCSecondVesselMember"/>
    <label xlink:type="resource" xlink:label="sblk_CSSCSecondVesselMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The Second CSSC Vessel.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">CSSC Second Vessel [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_CSSCSecondVesselMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">CSSC Second Vessel</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CSSCVesselsMember" xlink:label="sblk_CSSCVesselsMember"/>
    <label xlink:type="resource" xlink:label="sblk_CSSCVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The CSSC Vessels.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">CSSC Vessels [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_CSSCVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">CSSC Vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CapesizeVesselsMember" xlink:label="sblk_CapesizeVesselsMember"/>
    <label xlink:type="resource" xlink:label="sblk_CapesizeVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Capesize vessels.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capesize Vessels [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_CapesizeVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Capesize vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CapitalizedCostsOther" xlink:label="sblk_CapitalizedCostsOther"/>
    <label xlink:type="resource" xlink:label="sblk_CapitalizedCostsOther_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of accumulated other capitalized costs for vessels under construction and acquisition.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capitalized Costs Other</label>
    <label xlink:type="resource" xlink:label="sblk_CapitalizedCostsOther_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Other capitalized costs</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CashCollateralForPollutionRelease" xlink:label="sblk_CashCollateralForPollutionRelease"/>
    <label xlink:type="resource" xlink:label="sblk_CashCollateralForPollutionRelease_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Cash collateral for environmental polution released after being covered by Protection and Idemnity (P&amp;I) Club insurance.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash Collateral For Pollution Release</label>
    <label xlink:type="resource" xlink:label="sblk_CashCollateralForPollutionRelease_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Cash collateral for pollution release</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CertainChangesOfControlEventsMember" xlink:label="sblk_CertainChangesOfControlEventsMember"/>
    <label xlink:type="resource" xlink:label="sblk_CertainChangesOfControlEventsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Certain Changes Of Control Events [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Certain changes of control events</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Charterer1Member" xlink:label="sblk_Charterer1Member"/>
    <label xlink:type="resource" xlink:label="sblk_Charterer1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Charterer 1 [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Charterer A</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Charterer2Member" xlink:label="sblk_Charterer2Member"/>
    <label xlink:type="resource" xlink:label="sblk_Charterer2Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Charterer 2 [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Charterer B</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Charterer3Member" xlink:label="sblk_Charterer3Member"/>
    <label xlink:type="resource" xlink:label="sblk_Charterer3Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Charterer 3 [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Charterer C</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Charterer4Member" xlink:label="sblk_Charterer4Member"/>
    <label xlink:type="resource" xlink:label="sblk_Charterer4Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Charterer 4 [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Charterer D</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ChiefExecutiveOfficerFirstInstallmentMember" xlink:label="sblk_ChiefExecutiveOfficerFirstInstallmentMember"/>
    <label xlink:type="resource" xlink:label="sblk_ChiefExecutiveOfficerFirstInstallmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The first installment to the Company's former Chief Executive Officer.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Chief Executive Officer First Installment [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_ChiefExecutiveOfficerFirstInstallmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">First Installment CEO</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ChristineMember" xlink:label="sblk_ChristineMember"/>
    <label xlink:type="resource" xlink:label="sblk_ChristineMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Christine.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Christine [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_ChristineMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Christine (tbr Star Martha)</label>
    <label xlink:type="resource" xlink:label="sblk_ChristineMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Star Martha</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ChristineSandraAndLowlandsBeilunMember" xlink:label="sblk_ChristineSandraAndLowlandsBeilunMember"/>
    <label xlink:type="resource" xlink:label="sblk_ChristineSandraAndLowlandsBeilunMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Christine Sandra And Lowlands Beilun [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Christine, Sandra and Lowlands Beilun</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ChristineShipcoLLCMember" xlink:label="sblk_ChristineShipcoLLCMember"/>
    <label xlink:type="resource" xlink:label="sblk_ChristineShipcoLLCMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The company Christine Shipco LLC.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Christine Shipco LLC [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_ChristineShipcoLLCMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Christine Shipco LLC</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CitiFacilityMember" xlink:label="sblk_CitiFacilityMember"/>
    <label xlink:type="resource" xlink:label="sblk_CitiFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Citi Facility [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Citi Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CombineMarineLtdMember" xlink:label="sblk_CombineMarineLtdMember"/>
    <label xlink:type="resource" xlink:label="sblk_CombineMarineLtdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The company Combine Marine Ltd.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Combine Marine Ltd [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_CombineMarineLtdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Combine Marine Ltd</label>
    <label xlink:type="resource" xlink:label="sblk_CombineMarineLtdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Combine Marine Ltd.</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CommercialClaimMember" xlink:label="sblk_CommercialClaimMember"/>
    <label xlink:type="resource" xlink:label="sblk_CommercialClaimMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commercial Claim [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Commercial claim</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Commerzbank12000026000FacilitiesMember" xlink:label="sblk_Commerzbank12000026000FacilitiesMember"/>
    <label xlink:type="resource" xlink:label="sblk_Commerzbank12000026000FacilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The credit facilities Commerzbank $120,000 and $26,000.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commerzbank $120000 And $26000 Facilities [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_Commerzbank12000026000FacilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Commerzbank $120,000 and $26,000 facilities</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CommerzbankAg120000FacilitiyMember" xlink:label="sblk_CommerzbankAg120000FacilitiyMember"/>
    <label xlink:type="resource" xlink:label="sblk_CommerzbankAg120000FacilitiyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commerzbank Ag 120000 Facilitiy [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Commerzbank $120,000 Facilitiy</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CommerzbankAg26000FacilityMember" xlink:label="sblk_CommerzbankAg26000FacilityMember"/>
    <label xlink:type="resource" xlink:label="sblk_CommerzbankAg26000FacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commerzbank Ag 26000 Facility [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Commerzbank $26000 Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CommerzbankAgAggregateFacilityMember" xlink:label="sblk_CommerzbankAgAggregateFacilityMember"/>
    <label xlink:type="resource" xlink:label="sblk_CommerzbankAgAggregateFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The restructuring agreement for the credit facilities Commerzbank $120,000 and $26,000.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commerzbank Ag Aggregate Facility [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_CommerzbankAgAggregateFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Commerzbank $120,000 and $26,000 facilities - Supplemental Agreement</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CommerzbankAgAggregateFacilitySecondSupplementalMember" xlink:label="sblk_CommerzbankAgAggregateFacilitySecondSupplementalMember"/>
    <label xlink:type="resource" xlink:label="sblk_CommerzbankAgAggregateFacilitySecondSupplementalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commerzbank Ag Aggregate Facility Second Supplemental [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Commerzbank $120,000 and $26,000 facilities - Second Supplemental Agreement</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CommerzbankAgAggregateFacilityThirdSupplementalMember" xlink:label="sblk_CommerzbankAgAggregateFacilityThirdSupplementalMember"/>
    <label xlink:type="resource" xlink:label="sblk_CommerzbankAgAggregateFacilityThirdSupplementalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commerzbank Ag Aggregate Facility Third Supplemental [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Commerzbank $120,000 and $26,000 facilities - Third Supplemental Agreement</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CommisionsOnSaleOfAssets" xlink:label="sblk_CommisionsOnSaleOfAssets"/>
    <label xlink:type="resource" xlink:label="sblk_CommisionsOnSaleOfAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Commisions on sale of assets.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commisions On Sale Of Assets</label>
    <label xlink:type="resource" xlink:label="sblk_CommisionsOnSaleOfAssets_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Commission on sale of vessel</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ConstructionCostPerVesselFinancedByLessor" xlink:label="sblk_ConstructionCostPerVesselFinancedByLessor"/>
    <label xlink:type="resource" xlink:label="sblk_ConstructionCostPerVesselFinancedByLessor_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of construction costs per vessel financed by the lessor.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Construction Cost Per Vessel Financed By Lessor</label>
    <label xlink:type="resource" xlink:label="sblk_ConstructionCostPerVesselFinancedByLessor_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Construction cost per vessel</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ConstructionCostPerVessel" xlink:label="sblk_ConstructionCostPerVessel"/>
    <label xlink:type="resource" xlink:label="sblk_ConstructionCostPerVessel_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of construction costs per vessel financed by the relevant shipyard company.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Construction Cost Per Vessel</label>
    <label xlink:type="resource" xlink:label="sblk_ConstructionCostPerVessel_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Construction cost per vessel</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ConsultancyAgreementsMember" xlink:label="sblk_ConsultancyAgreementsMember"/>
    <label xlink:type="resource" xlink:label="sblk_ConsultancyAgreementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Consulting agreements with related parties.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Consultancy Agreements [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_ConsultancyAgreementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Consultancy agreements</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ConsultingAgreementsFollowingCompletionOfMergerMember" xlink:label="sblk_ConsultingAgreementsFollowingCompletionOfMergerMember"/>
    <label xlink:type="resource" xlink:label="sblk_ConsultingAgreementsFollowingCompletionOfMergerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Consulting Agreements Following Completion Of Merger [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Consulting agreements following the completion of the merger</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ContractualObligationDue" xlink:label="sblk_ContractualObligationDue"/>
    <label xlink:type="resource" xlink:label="sblk_ContractualObligationDue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of contractual obligation for the construction of newbuilding vessels.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Contractual Obligation Due</label>
    <label xlink:type="resource" xlink:label="sblk_ContractualObligationDue_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ConversionOfReceivablePercentageOfAmountConverted" xlink:label="sblk_ConversionOfReceivablePercentageOfAmountConverted"/>
    <label xlink:type="resource" xlink:label="sblk_ConversionOfReceivablePercentageOfAmountConverted_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The percentage of receivable amount converted into shares in a part noncash transaction.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Conversion Of Receivable, Percentage Of Amount Converted</label>
    <label xlink:type="resource" xlink:label="sblk_ConversionOfReceivablePercentageOfAmountConverted_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Percentage of amount converted into shares</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ConversionOfReceivablePercentageOfAmountPaidInCash" xlink:label="sblk_ConversionOfReceivablePercentageOfAmountPaidInCash"/>
    <label xlink:type="resource" xlink:label="sblk_ConversionOfReceivablePercentageOfAmountPaidInCash_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The percentage of receivable amount paid in cash  in a part noncash transaction.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Conversion Of Receivable Percentage Of Amount Paid In Cash</label>
    <label xlink:type="resource" xlink:label="sblk_ConversionOfReceivablePercentageOfAmountPaidInCash_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Percentage of amount paid in cash</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CovenantObligationMinimumLiquidFunds" xlink:label="sblk_CovenantObligationMinimumLiquidFunds"/>
    <label xlink:type="resource" xlink:label="sblk_CovenantObligationMinimumLiquidFunds_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Minimum liquid funds for the company to be allowed to pay dividends.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Covenant Obligation Minimum Liquid Funds</label>
    <label xlink:type="resource" xlink:label="sblk_CovenantObligationMinimumLiquidFunds_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Liquid funds to be allowed to pay dividends</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CreditAgricoleCorporateAndInvestmentBankMember" xlink:label="sblk_CreditAgricoleCorporateAndInvestmentBankMember"/>
    <label xlink:type="resource" xlink:label="sblk_CreditAgricoleCorporateAndInvestmentBankMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The credit facility Credit Agricole Corporate and Investment Bank $70,000.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Credit Agricole Corporate And Investment Bank [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_CreditAgricoleCorporateAndInvestmentBankMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Credit Agricole Corporate and Investment Bank (Loan agreement dated January 20, 2011)</label>
    <label xlink:type="resource" xlink:label="sblk_CreditAgricoleCorporateAndInvestmentBankMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Credit Agricole Corporate and Investment Bank $70,000 facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CreditAgricoleSwapsMember" xlink:label="sblk_CreditAgricoleSwapsMember"/>
    <label xlink:type="resource" xlink:label="sblk_CreditAgricoleSwapsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The Credit Agricole and HSH Nordbank Swaps.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Credit Agricole Swaps [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_CreditAgricoleSwapsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Credit Agricole Swaps and the HSH Swaps</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CrossCollateralBareboatVesselsMember" xlink:label="sblk_CrossCollateralBareboatVesselsMember"/>
    <label xlink:type="resource" xlink:label="sblk_CrossCollateralBareboatVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cross Collateral Bareboat Vessels [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Cross collateral, Bareboat vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_CyprusMember" xlink:label="sblk_CyprusMember"/>
    <label xlink:type="resource" xlink:label="sblk_CyprusMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cyprus [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Cyprus</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_DNB-SEB-CEXIMFacilityMember" xlink:label="sblk_DNB-SEB-CEXIMFacilityMember"/>
    <label xlink:type="resource" xlink:label="sblk_DNB-SEB-CEXIMFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The credit facility DNB-SEB-CEXIM $227,500.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">DNB - SEB - CEXIM Facility [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_DNB-SEB-CEXIMFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">DNB-SEB-CEXIM $227,500 Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_DNBFacilityMember" xlink:label="sblk_DNBFacilityMember"/>
    <label xlink:type="resource" xlink:label="sblk_DNBFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">DNB Facility [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">DNB $120,000 Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_DVBDeepBlueFacilityMember" xlink:label="sblk_DVBDeepBlueFacilityMember"/>
    <label xlink:type="resource" xlink:label="sblk_DVBDeepBlueFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The credit facility DVB $31,000 Deep Blue.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">DVB Deep Blue Facility [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_DVBDeepBlueFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">DVB $31,000 Deep Blue Facility</label>
    <label xlink:type="resource" xlink:label="sblk_DVBDeepBlueFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">DVB $31,000 Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_DVBFacilityMember" xlink:label="sblk_DVBFacilityMember"/>
    <label xlink:type="resource" xlink:label="sblk_DVBFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">DVB Facility [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">DVB $24,750 Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_DailyManagementFee" xlink:label="sblk_DailyManagementFee"/>
    <label xlink:type="resource" xlink:label="sblk_DailyManagementFee_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The fee rate charged daily, persuant to the management agreement.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Daily Management Fee</label>
    <label xlink:type="resource" xlink:label="sblk_DailyManagementFee_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Daily fixed management fee</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_DebtInstrumentCarryingAmountCurrentExcludingNotes" xlink:label="sblk_DebtInstrumentCarryingAmountCurrentExcludingNotes"/>
    <label xlink:type="resource" xlink:label="sblk_DebtInstrumentCarryingAmountCurrentExcludingNotes_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Current amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Excludes notes payable.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_DebtInstrumentCarryingAmountCurrentExcludingNotes" xlink:to="sblk_DebtInstrumentCarryingAmountCurrentExcludingNotes_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_DebtInstrumentCarryingAmountCurrentExcludingNotes_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument Carrying Amount Current Excluding Notes</label>
    <label xlink:type="resource" xlink:label="sblk_DebtInstrumentCarryingAmountCurrentExcludingNotes_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Long term debt - current portion</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_DebtInstrumentCarryingAmountExcludingNotes" xlink:label="sblk_DebtInstrumentCarryingAmountExcludingNotes"/>
    <label xlink:type="resource" xlink:label="sblk_DebtInstrumentCarryingAmountExcludingNotes_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Excludes notes payable.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_DebtInstrumentCarryingAmountExcludingNotes" xlink:to="sblk_DebtInstrumentCarryingAmountExcludingNotes_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_DebtInstrumentCarryingAmountExcludingNotes_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument Carrying Amount Excluding Notes</label>
    <label xlink:type="resource" xlink:label="sblk_DebtInstrumentCarryingAmountExcludingNotes_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total Long term debt</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_DebtInstrumentCarryingAmountNonCurrentExcludingNotes" xlink:label="sblk_DebtInstrumentCarryingAmountNonCurrentExcludingNotes"/>
    <label xlink:type="resource" xlink:label="sblk_DebtInstrumentCarryingAmountNonCurrentExcludingNotes_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Non-current amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Excludes notes payable.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_DebtInstrumentCarryingAmountNonCurrentExcludingNotes" xlink:to="sblk_DebtInstrumentCarryingAmountNonCurrentExcludingNotes_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_DebtInstrumentCarryingAmountNonCurrentExcludingNotes_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument Carrying Amount Non Current Excluding Notes</label>
    <label xlink:type="resource" xlink:label="sblk_DebtInstrumentCarryingAmountNonCurrentExcludingNotes_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Long term debt - non-current portion</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_DebtInstrumentCovenantAmountOfEquityToBeRaised" xlink:label="sblk_DebtInstrumentCovenantAmountOfEquityToBeRaised"/>
    <label xlink:type="resource" xlink:label="sblk_DebtInstrumentCovenantAmountOfEquityToBeRaised_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">States the amount of equity that the company is obliged to raise under the debt instrument covenants.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument Covenant Amount Of Equity To Be Raised</label>
    <label xlink:type="resource" xlink:label="sblk_DebtInstrumentCovenantAmountOfEquityToBeRaised_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Amount of equity to be raised under debt instrument covenants</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_DebtInstrumentPrepaymentAmount" xlink:label="sblk_DebtInstrumentPrepaymentAmount"/>
    <label xlink:type="resource" xlink:label="sblk_DebtInstrumentPrepaymentAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of debt prepaid.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument Prepayment Amount</label>
    <label xlink:type="resource" xlink:label="sblk_DebtInstrumentPrepaymentAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Prepayment amount</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_DebtInstrumentWaiverFeePercentage" xlink:label="sblk_DebtInstrumentWaiverFeePercentage"/>
    <label xlink:type="resource" xlink:label="sblk_DebtInstrumentWaiverFeePercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The fee expressed as a percentage of the outstanding loan balance.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument Waiver Fee Percentage</label>
    <label xlink:type="resource" xlink:label="sblk_DebtInstrumentWaiverFeePercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Waiver fee percentage</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_DeepBlueMember" xlink:label="sblk_DeepBlueMember"/>
    <label xlink:type="resource" xlink:label="sblk_DeepBlueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Deep Blue.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deep Blue [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_DeepBlueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Deep Blue</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_DefiniteAgreementsMember" xlink:label="sblk_DefiniteAgreementsMember"/>
    <label xlink:type="resource" xlink:label="sblk_DefiniteAgreementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Definite Agreements [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Definite agreements</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_DeliveryDateVessel" xlink:label="sblk_DeliveryDateVessel"/>
    <label xlink:type="resource" xlink:label="sblk_DeliveryDateVessel_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The date of the vessel delivery to the Company.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Delivery date</label>
    <label xlink:type="resource" xlink:label="sblk_DeliveryDateVessel_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Date Delivered to Star Bulk</label>
    <label xlink:type="resource" xlink:label="sblk_DeliveryDateVessel_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Expected Delivery Date</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_DeutscheBankFacilityMember" xlink:label="sblk_DeutscheBankFacilityMember"/>
    <label xlink:type="resource" xlink:label="sblk_DeutscheBankFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The credit facility Deutsche Bank $85,000.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deutsche Bank Facility [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_DeutscheBankFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Deutsche Bank $85,000 Facility</label>
    <label xlink:type="resource" xlink:label="sblk_DeutscheBankFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Deutsche Bank AG $85,000 Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_DeutscheBankMember" xlink:label="sblk_DeutscheBankMember"/>
    <label xlink:type="resource" xlink:label="sblk_DeutscheBankMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The credit facility Deutsche Bank AG $39,000.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">DeutscheBank [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_DeutscheBankMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Deutsche Bank AG $39,000 facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_DiorigaFacilityMember" xlink:label="sblk_DiorigaFacilityMember"/>
    <label xlink:type="resource" xlink:label="sblk_DiorigaFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The credit facility HSBC $20,000 Dioriga.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Dioriga Facility [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_DiorigaFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">HSBC $20,000 Dioriga Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_DirectorsMember" xlink:label="sblk_DirectorsMember"/>
    <label xlink:type="resource" xlink:label="sblk_DirectorsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The directors of the company.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Directors [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_DirectorsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Directors</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_DocumentAndEntityInformationAbstract" xlink:label="sblk_DocumentAndEntityInformationAbstract"/>
    <label xlink:type="resource" xlink:label="sblk_DocumentAndEntityInformationAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Document And Entity Information [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_DocumentAndEntityInformationAbstract" xlink:to="sblk_DocumentAndEntityInformationAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_DryDockingCostsPolicyTextBlock" xlink:label="sblk_DryDockingCostsPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="sblk_DryDockingCostsPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Disclosure of accounting policy for dry docking costs.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Dry Docking Costs [Policy Text Block]</label>
    <label xlink:type="resource" xlink:label="sblk_DryDockingCostsPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Dry docking and special survey expenses</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_EffectiveDateManagementAgreement" xlink:label="sblk_EffectiveDateManagementAgreement"/>
    <label xlink:type="resource" xlink:label="sblk_EffectiveDateManagementAgreement_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The element refers to the effective date of management agreement.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Effective Date of Management Agreement</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_EquityIncentivePlan2013Member" xlink:label="sblk_EquityIncentivePlan2013Member"/>
    <label xlink:type="resource" xlink:label="sblk_EquityIncentivePlan2013Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Incentive Plan 2013 [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Equity Incentive Plan 2013</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_EquityIncentivePlan2014Member" xlink:label="sblk_EquityIncentivePlan2014Member"/>
    <label xlink:type="resource" xlink:label="sblk_EquityIncentivePlan2014Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The Equity incentive plan of 2014</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Incentive Plan 2014 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_EquityIncentivePlan2014Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Equity Incentive Plan 2014</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_EquityIncentivePlan2015Member" xlink:label="sblk_EquityIncentivePlan2015Member"/>
    <label xlink:type="resource" xlink:label="sblk_EquityIncentivePlan2015Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The equity incentive plan of 2015.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Incentive Plan 2015 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_EquityIncentivePlan2015Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Equity Incentive Plan 2015</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_EquityIncentivePlan2016Member" xlink:label="sblk_EquityIncentivePlan2016Member"/>
    <label xlink:type="resource" xlink:label="sblk_EquityIncentivePlan2016Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Incentive Plan 2016 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_EquityIncentivePlan2016Member" xlink:to="sblk_EquityIncentivePlan2016Member_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_EquityIncentivePlan2016Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Equity Incentive Plan 2016</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember" xlink:label="sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember"/>
    <label xlink:type="resource" xlink:label="sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Definite agreements in which the company entered with Excel Maritime Carriers Ltd.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember" xlink:to="sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Excel Maritime Carriers Ltd Definite Agreements [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Definite Agreements with Excel Maritime Carriers Ltd</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ExcelMaritimeCarriersLtdMember" xlink:label="sblk_ExcelMaritimeCarriersLtdMember"/>
    <label xlink:type="resource" xlink:label="sblk_ExcelMaritimeCarriersLtdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Excel Maritime Carriers Ltd [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_ExcelMaritimeCarriersLtdMember" xlink:to="sblk_ExcelMaritimeCarriersLtdMember_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_ExcelMaritimeCarriersLtdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Excel Maritime Carriers Ltd</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ExcelTransactionsSoceAdjustmentsMember" xlink:label="sblk_ExcelTransactionsSoceAdjustmentsMember"/>
    <label xlink:type="resource" xlink:label="sblk_ExcelTransactionsSoceAdjustmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Excel Transactions Soce Adjustments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_ExcelTransactionsSoceAdjustmentsMember" xlink:to="sblk_ExcelTransactionsSoceAdjustmentsMember_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_ExcelTransactionsSoceAdjustmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Excel Transactions</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember" xlink:label="sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember"/>
    <label xlink:type="resource" xlink:label="sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The credit facilities Excel Vessel Bridge, Excel Vessel CiT, ABN AMRO $31,000 and Commerzbank $26,000.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember" xlink:to="sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Excel Vessel Bridge Facility And Excel Vessel CiT Facility And ABN AMRO $31,000 Facility And Commerzbank 26,000 Facility [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Excel Vessel Bridge Facility, Excel Vessel CiT Facility, ABN AMRO $31,000 Facility and Commerzbank 26,000 Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ExcelVesselBridgeFacilityIIIMember" xlink:label="sblk_ExcelVesselBridgeFacilityIIIMember"/>
    <label xlink:type="resource" xlink:label="sblk_ExcelVesselBridgeFacilityIIIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The credit facility Excel Vessel Bridge Facility.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_ExcelVesselBridgeFacilityIIIMember" xlink:to="sblk_ExcelVesselBridgeFacilityIIIMember_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_ExcelVesselBridgeFacilityIIIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Excel Vessel Bridge Facility III [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_ExcelVesselBridgeFacilityIIIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Excel Vessel Bridge Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ExcelVesselBridgeFacilityIIMember" xlink:label="sblk_ExcelVesselBridgeFacilityIIMember"/>
    <label xlink:type="resource" xlink:label="sblk_ExcelVesselBridgeFacilityIIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Excel Vessel Bridge Facility II [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_ExcelVesselBridgeFacilityIIMember" xlink:to="sblk_ExcelVesselBridgeFacilityIIMember_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_ExcelVesselBridgeFacilityIIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Excel vessel Bridge Facility</label>
    <label xlink:type="resource" xlink:label="sblk_ExcelVesselBridgeFacilityIIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Excel Vessel Bridge Facility (i)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ExcelVesselBridgeFacilityMember" xlink:label="sblk_ExcelVesselBridgeFacilityMember"/>
    <label xlink:type="resource" xlink:label="sblk_ExcelVesselBridgeFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Excel Vessel Bridge Facility [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_ExcelVesselBridgeFacilityMember" xlink:to="sblk_ExcelVesselBridgeFacilityMember_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_ExcelVesselBridgeFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Excel Vessel Bridge Facility (Note 3 and Note 20)</label>
    <label xlink:type="resource" xlink:label="sblk_ExcelVesselBridgeFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Excel Vessel Bridge Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ExcelVesselCITFacilityMember" xlink:label="sblk_ExcelVesselCITFacilityMember"/>
    <label xlink:type="resource" xlink:label="sblk_ExcelVesselCITFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The crdit facility Excel Vessel CiT.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Excel Vessel CIT Facility [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_ExcelVesselCITFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Excel Vessel CiT Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ExcelVesselsIIMember" xlink:label="sblk_ExcelVesselsIIMember"/>
    <label xlink:type="resource" xlink:label="sblk_ExcelVesselsIIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Excel Vessels II [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_ExcelVesselsIIMember" xlink:to="sblk_ExcelVesselsIIMember_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_ExcelVesselsIIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Excel vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ExcelVesselsMember" xlink:label="sblk_ExcelVesselsMember"/>
    <label xlink:type="resource" xlink:label="sblk_ExcelVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Vessels acquired from Excel Maritime Carriers Ltd.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Excel Vessels [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_ExcelVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Excel Vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock" xlink:label="sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock"/>
    <label xlink:type="resource" xlink:label="sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">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>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock" xlink:to="sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Of Above Market Acquired Time Charters [Text Block]</label>
    <label xlink:type="resource" xlink:label="sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fair Value of Above-Market Acquired Time Charters:</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FairValueAdjustmentMember" xlink:label="sblk_FairValueAdjustmentMember"/>
    <label xlink:type="resource" xlink:label="sblk_FairValueAdjustmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The fair value adjustment portion of impairment charges.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_FairValueAdjustmentMember" xlink:to="sblk_FairValueAdjustmentMember_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_FairValueAdjustmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Adjustment [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_FairValueAdjustmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Impairment charge, Fair value adjustment portion</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FairValueOfAbove-MarketAcquiredTimeChartersAbstract" xlink:label="sblk_FairValueOfAbove-MarketAcquiredTimeChartersAbstract"/>
    <label xlink:type="resource" xlink:label="sblk_FairValueOfAbove-MarketAcquiredTimeChartersAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Of Above-Market Acquired Time Charters [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_FairValueOfAbove-MarketAcquiredTimeChartersAbstract" xlink:to="sblk_FairValueOfAbove-MarketAcquiredTimeChartersAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FairValueOfAboveMarketAcquiredTimeCharter" xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter"/>
    <label xlink:type="resource" xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The asset arising from the market value of the time charter contract assumed from a vessel acquisition.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_FairValueOfAboveMarketAcquiredTimeCharter" xlink:to="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Balance</label>
    <label xlink:type="resource" xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Balance</label>
    <label xlink:type="resource" xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xml:lang="en-US">Fair value of above market acquired time charter</label>
    <label xlink:type="resource" xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Of Above Market Acquired Time Charter</label>
    <label xlink:type="resource" xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fair value of above market acquired time charter (Note 7)</label>
    <label xlink:type="resource" xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total</label>
    <label xlink:type="resource" xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Balance</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FinancedByNewYangzijiangOwnerMember" xlink:label="sblk_FinancedByNewYangzijiangOwnerMember"/>
    <label xlink:type="resource" xlink:label="sblk_FinancedByNewYangzijiangOwnerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Agreement with New Yangzijiang Owner to finance the construction cost of vessels.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_FinancedByNewYangzijiangOwnerMember" xlink:to="sblk_FinancedByNewYangzijiangOwnerMember_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_FinancedByNewYangzijiangOwnerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Financed By New Yangzijiang Owner [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_FinancedByNewYangzijiangOwnerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Financed by New Yangzijiang owner</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FinancedBySWSOwnerMember" xlink:label="sblk_FinancedBySWSOwnerMember"/>
    <label xlink:type="resource" xlink:label="sblk_FinancedBySWSOwnerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Agreement with SWS Owner to finance the construction cost of vessels.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_FinancedBySWSOwnerMember" xlink:to="sblk_FinancedBySWSOwnerMember_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_FinancedBySWSOwnerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Financed By SWS owner [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_FinancedBySWSOwnerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Financed by SWS owner</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FinancedThroughBareboatCapitalLeaseArrangementsMember" xlink:label="sblk_FinancedThroughBareboatCapitalLeaseArrangementsMember"/>
    <label xlink:type="resource" xlink:label="sblk_FinancedThroughBareboatCapitalLeaseArrangementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Financed Through Bareboat Capital Lease Arrangements [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_FinancedThroughBareboatCapitalLeaseArrangementsMember" xlink:to="sblk_FinancedThroughBareboatCapitalLeaseArrangementsMember_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_FinancedThroughBareboatCapitalLeaseArrangementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Financed through bareboat capital lease arrangements</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FinancingHeronVesselsMember" xlink:label="sblk_FinancingHeronVesselsMember"/>
    <label xlink:type="resource" xlink:label="sblk_FinancingHeronVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Financing of Heron Vessels [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_FinancingHeronVesselsMember" xlink:to="sblk_FinancingHeronVesselsMember_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_FinancingHeronVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Heron Vessels Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FinancingReceivableWriteOffs" xlink:label="sblk_FinancingReceivableWriteOffs"/>
    <label xlink:type="resource" xlink:label="sblk_FinancingReceivableWriteOffs_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of write-downs of financing receivables.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_FinancingReceivableWriteOffs" xlink:to="sblk_FinancingReceivableWriteOffs_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_FinancingReceivableWriteOffs_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Financing Receivable Write Offs</label>
    <label xlink:type="resource" xlink:label="sblk_FinancingReceivableWriteOffs_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Write off, Loan receivable</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FirstFourInstallmentsMember" xlink:label="sblk_FirstFourInstallmentsMember"/>
    <label xlink:type="resource" xlink:label="sblk_FirstFourInstallmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">First Four Installments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_FirstFourInstallmentsMember" xlink:to="sblk_FirstFourInstallmentsMember_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_FirstFourInstallmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">First four installments</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FirstFourteenInstallmentsMember" xlink:label="sblk_FirstFourteenInstallmentsMember"/>
    <label xlink:type="resource" xlink:label="sblk_FirstFourteenInstallmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">First Fourteen Installments [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">First fourteen installments</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FirstInstallmentIIMember" xlink:label="sblk_FirstInstallmentIIMember"/>
    <label xlink:type="resource" xlink:label="sblk_FirstInstallmentIIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">First Installment II [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">First installment</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FirstInstallmentMember" xlink:label="sblk_FirstInstallmentMember"/>
    <label xlink:type="resource" xlink:label="sblk_FirstInstallmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The first installment.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">First Installment [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_FirstInstallmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">First Installment</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FirstPriorityMortgageMember" xlink:label="sblk_FirstPriorityMortgageMember"/>
    <label xlink:type="resource" xlink:label="sblk_FirstPriorityMortgageMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">First Priority Mortgage [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">First-priority mortgage</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FiveNewbuildingVesselsMember" xlink:label="sblk_FiveNewbuildingVesselsMember"/>
    <label xlink:type="resource" xlink:label="sblk_FiveNewbuildingVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Five Newbuilding Vessels [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Five newbuilding vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FixForwardFloatingInterestRateForLiabilityMember" xlink:label="sblk_FixForwardFloatingInterestRateForLiabilityMember"/>
    <label xlink:type="resource" xlink:label="sblk_FixForwardFloatingInterestRateForLiabilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The HSH Nordbank interest rate swaps.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fix Forward Floating Interest Rate For Liability [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_FixForwardFloatingInterestRateForLiabilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fix forward 50% of floating interest rate for the HSH Nordbank AG $35,000 Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FlatFeePerVessel" xlink:label="sblk_FlatFeePerVessel"/>
    <label xlink:type="resource" xlink:label="sblk_FlatFeePerVessel_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">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>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Flat Fee Per Vessel</label>
    <label xlink:type="resource" xlink:label="sblk_FlatFeePerVessel_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessel acquisition commission, Flat fee</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FleetUtilizationAssumption" xlink:label="sblk_FleetUtilizationAssumption"/>
    <label xlink:type="resource" xlink:label="sblk_FleetUtilizationAssumption_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The fleet utilization rate assumption used in the impairment test of long lived assets.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fleet Utilization Assumption</label>
    <label xlink:type="resource" xlink:label="sblk_FleetUtilizationAssumption_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fleet utilization assumption</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FormerChiefExecutiveOfficerMember" xlink:label="sblk_FormerChiefExecutiveOfficerMember"/>
    <label xlink:type="resource" xlink:label="sblk_FormerChiefExecutiveOfficerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Former Chief Executive Officer [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Former Chief Executive Officer</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FormerDirectorMember" xlink:label="sblk_FormerDirectorMember"/>
    <label xlink:type="resource" xlink:label="sblk_FormerDirectorMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Former Director [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Company's former director</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember" xlink:label="sblk_FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember"/>
    <label xlink:type="resource" xlink:label="sblk_FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Future minimum, non-cancellable lease payment under vessel operating leases [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Future, minimum non cancellable lease payment under vessel operating leases (2)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_FutureMinimumNonCancellableCharterRevenueMember" xlink:label="sblk_FutureMinimumNonCancellableCharterRevenueMember"/>
    <label xlink:type="resource" xlink:label="sblk_FutureMinimumNonCancellableCharterRevenueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The future, minimum, non-cancellable charter revenue.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Future Minimum Non Cancellable Charter Revenue [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_FutureMinimumNonCancellableCharterRevenueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Future, minimum, non-cancellable charter revenue (1)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_GainFromInsuranceClaim" xlink:label="sblk_GainFromInsuranceClaim"/>
    <label xlink:type="resource" xlink:label="sblk_GainFromInsuranceClaim_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">This element represents the gain arising from insurance claims.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain from insurance claim</label>
    <label xlink:type="resource" xlink:label="sblk_GainFromInsuranceClaim_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Gain from insurance claim</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_GainFromWriteOffLiability" xlink:label="sblk_GainFromWriteOffLiability"/>
    <label xlink:type="resource" xlink:label="sblk_GainFromWriteOffLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The non-cash gain from the write-off of a liability, relevant to operating activities.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain From Write Off Of Liability</label>
    <label xlink:type="resource" xlink:label="sblk_GainFromWriteOffLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Write-off of liability in other operational gain (non-cash gain) (Note 11)</label>
    <label xlink:type="resource" xlink:label="sblk_GainFromWriteOffLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Exinguishment of liability related to amount of fuel and lubricants remaining on board</label>
    <label xlink:type="resource" xlink:label="sblk_GainFromWriteOffLiability_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Write-off of liability in other operational gain (non cash gain) (Note 10)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings" xlink:label="sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings"/>
    <label xlink:type="resource" xlink:label="sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The aggregate net effect in earnings due to derivatives.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain Loss On Derivative Instruments Aggregate Net Effect In Earnings</label>
    <label xlink:type="resource" xlink:label="sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total Gain/(Loss) recognized</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_GainLossOnSaleOfClaim" xlink:label="sblk_GainLossOnSaleOfClaim"/>
    <label xlink:type="resource" xlink:label="sblk_GainLossOnSaleOfClaim_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Total amount of gain / (loss) on sale of claim.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain Loss On Sale Of Claim</label>
    <label xlink:type="resource" xlink:label="sblk_GainLossOnSaleOfClaim_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Gain on sale of claim</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_GargantuaAndGoliathAndMaharajMember" xlink:label="sblk_GargantuaAndGoliathAndMaharajMember"/>
    <label xlink:type="resource" xlink:label="sblk_GargantuaAndGoliathAndMaharajMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gargantua And Goliath And Maharaj [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Gargantua, Goliath and Maharaj</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_GargantuaMember" xlink:label="sblk_GargantuaMember"/>
    <label xlink:type="resource" xlink:label="sblk_GargantuaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Gargantua.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gargantua [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_GargantuaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Gargantua</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_GoldmanSachsBankUSAMember" xlink:label="sblk_GoldmanSachsBankUSAMember"/>
    <label xlink:type="resource" xlink:label="sblk_GoldmanSachsBankUSAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The financial institution Goldman Sachs Bank USA.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Goldman Sachs Bank USA Member]</label>
    <label xlink:type="resource" xlink:label="sblk_GoldmanSachsBankUSAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Goldman Sachs</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_GoldmanSachsSwapsMember" xlink:label="sblk_GoldmanSachsSwapsMember"/>
    <label xlink:type="resource" xlink:label="sblk_GoldmanSachsSwapsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The Goldman Sachs swaps.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Goldman Sachs Swaps [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_GoldmanSachsSwapsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Goldman Sachs Swaps</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_GoliathAndMaharajMember" xlink:label="sblk_GoliathAndMaharajMember"/>
    <label xlink:type="resource" xlink:label="sblk_GoliathAndMaharajMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessels Goliath (ex -HN 167) and Maharaj (ex -HN 185).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Goliath And Maharaj [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_GoliathAndMaharajMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Goliath (ex -HN 167) and Maharaj (ex -HN 185)</label>
    <label xlink:type="resource" xlink:label="sblk_GoliathAndMaharajMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Goliath and Maharaj</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_GoliathMember" xlink:label="sblk_GoliathMember"/>
    <label xlink:type="resource" xlink:label="sblk_GoliathMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Goliath [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Goliath</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_GreeceMember" xlink:label="sblk_GreeceMember"/>
    <label xlink:type="resource" xlink:label="sblk_GreeceMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Greece [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Greece</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_GrossDailyCharterRate" xlink:label="sblk_GrossDailyCharterRate"/>
    <label xlink:type="resource" xlink:label="sblk_GrossDailyCharterRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The gross daily charter rate.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gross Daily Charter Rate</label>
    <label xlink:type="resource" xlink:label="sblk_GrossDailyCharterRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Gross daily charter rate</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HN1080Member" xlink:label="sblk_HN1080Member"/>
    <label xlink:type="resource" xlink:label="sblk_HN1080Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">HN 1080 [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">HN 1080 (tbn Kennadi)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HN1081Member" xlink:label="sblk_HN1081Member"/>
    <label xlink:type="resource" xlink:label="sblk_HN1081Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN 1081 (tbn Mackenzie).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">HN 1081 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HN1081Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">HN 1081 (tbn Mackenzie)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HN1082Member" xlink:label="sblk_HN1082Member"/>
    <label xlink:type="resource" xlink:label="sblk_HN1082Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN 1082 (tbn Night Owl).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">HN 1082 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HN1082Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">HN 1082 (tbn Night Owl)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HN1083Member" xlink:label="sblk_HN1083Member"/>
    <label xlink:type="resource" xlink:label="sblk_HN1083Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN 1083 (tbn Early Bird).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">HN 1083 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HN1083Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">HN 1083 (tbn Early Bird)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HN1312Member" xlink:label="sblk_HN1312Member"/>
    <label xlink:type="resource" xlink:label="sblk_HN1312Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN 1312 (tbn Bruno Marks).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">HN 1312 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HN1312Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">HN 1312 (tbn Bruno Marks)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HN1313Member" xlink:label="sblk_HN1313Member"/>
    <label xlink:type="resource" xlink:label="sblk_HN1313Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN 1313 (tbn Jenmark).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">HN 1313 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HN1313Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">HN 1313 (tbn Jenmark)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HN1359Member" xlink:label="sblk_HN1359Member"/>
    <label xlink:type="resource" xlink:label="sblk_HN1359Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN 1359 (tbn Star Marisa).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">HN 1359 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HN1359Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Hull HN 1359 (tbn Star Marisa)</label>
    <label xlink:type="resource" xlink:label="sblk_HN1359Member_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">HN 1359 (tbn Star Marisa)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HN1360Member" xlink:label="sblk_HN1360Member"/>
    <label xlink:type="resource" xlink:label="sblk_HN1360Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN 1360 (tbn Star Ariadne).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">HN 1360 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HN1360Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Hull HN 1360 (tbn Star Ariadne)</label>
    <label xlink:type="resource" xlink:label="sblk_HN1360Member_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">HN 1360 (tbn Star Ariadne) (1)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HN1361Member" xlink:label="sblk_HN1361Member"/>
    <label xlink:type="resource" xlink:label="sblk_HN1361Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN 1361 (tbn Star Magnanimus).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">HN 1361 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HN1361Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Hull HN 1361(tbn Star Magnanimus)</label>
    <label xlink:type="resource" xlink:label="sblk_HN1361Member_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">HN 1361 (tbn Star Magnanimus) (1)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HN1363Member" xlink:label="sblk_HN1363Member"/>
    <label xlink:type="resource" xlink:label="sblk_HN1363Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN 1363 (tbn Star Chaucer).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">HN 1363 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HN1363Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Hull HN 1363 (tbn Star Chaucer)</label>
    <label xlink:type="resource" xlink:label="sblk_HN1363Member_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">HN 1363 (tbn Star Chaucer)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HN5055Member" xlink:label="sblk_HN5055Member"/>
    <label xlink:type="resource" xlink:label="sblk_HN5055Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN 5055 (tbn Behemoth).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">HN 5055 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HN5055Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">HN 5055 (tbn Behemoth)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HN5056Member" xlink:label="sblk_HN5056Member"/>
    <label xlink:type="resource" xlink:label="sblk_HN5056Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN 5056 (tbn Megalodon).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">HN 5056 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HN5056Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">HN 5056 (tbn Megalodon)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HNNE167Member" xlink:label="sblk_HNNE167Member"/>
    <label xlink:type="resource" xlink:label="sblk_HNNE167Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel  HN NE 167 (tbn Goliath).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">HN NE 167 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HNNE167Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">HN NE 167 (tbn Goliath)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HNNE184Member" xlink:label="sblk_HNNE184Member"/>
    <label xlink:type="resource" xlink:label="sblk_HNNE184Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel  HN NE 184 (tbn Maharaj).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">HN NE 184 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HNNE184Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">HN NE 184 (tbn Maharaj)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HSBCFacilityMember" xlink:label="sblk_HSBCFacilityMember"/>
    <label xlink:type="resource" xlink:label="sblk_HSBCFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The credit facility HSBC $86,600.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">HSBC Facility [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HSBCFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">HSBC $86,600 Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HandlingFees" xlink:label="sblk_HandlingFees"/>
    <label xlink:type="resource" xlink:label="sblk_HandlingFees_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of fees related to handling fees at acquisition of property, plant and equipment.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Handling Fees</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HandymaxVesselsMember" xlink:label="sblk_HandymaxVesselsMember"/>
    <label xlink:type="resource" xlink:label="sblk_HandymaxVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Handymax vessels.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Handymax Vessels [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HandymaxVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Handymax vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HeldInEscrowForHeronVesselsMember" xlink:label="sblk_HeldInEscrowForHeronVesselsMember"/>
    <label xlink:type="resource" xlink:label="sblk_HeldInEscrowForHeronVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Held In Escrow For Heron Vessels [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Held in escrow for Heron vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HeronConvertibleLoanMember" xlink:label="sblk_HeronConvertibleLoanMember"/>
    <label xlink:type="resource" xlink:label="sblk_HeronConvertibleLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The Heron Convertible Loan.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Heron Convertible Loan [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HeronConvertibleLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Heron Convertible Loan</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HeronTransactionSoceAdjustmentsMember" xlink:label="sblk_HeronTransactionSoceAdjustmentsMember"/>
    <label xlink:type="resource" xlink:label="sblk_HeronTransactionSoceAdjustmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Heron Transaction Soce Adjustments [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Heron Transaction in escrow account (Note 1)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HeronVenturesLtdMember" xlink:label="sblk_HeronVenturesLtdMember"/>
    <label xlink:type="resource" xlink:label="sblk_HeronVenturesLtdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The company Heron Ventures Ltd.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Heron Ventures Ltd [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HeronVenturesLtdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Heron Ventures Ltd</label>
    <label xlink:type="resource" xlink:label="sblk_HeronVenturesLtdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Heron Transaction in escrow account (Note 1)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HoneyBadgerMember" xlink:label="sblk_HoneyBadgerMember"/>
    <label xlink:type="resource" xlink:label="sblk_HoneyBadgerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Honey Badger.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Honey Badger [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HoneyBadgerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Honey Badger</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HoneyBadgerWolverineMember" xlink:label="sblk_HoneyBadgerWolverineMember"/>
    <label xlink:type="resource" xlink:label="sblk_HoneyBadgerWolverineMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessels Honey Badger and Wolverine.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Honey Badger And Wolverine [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HoneyBadgerWolverineMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Honey Badger and Wolverine</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HshNordbankAg3Member" xlink:label="sblk_HshNordbankAg3Member"/>
    <label xlink:type="resource" xlink:label="sblk_HshNordbankAg3Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The credit facility HSH Nordbank AG $64,500.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Hsh Nordbank Ag3 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HshNordbankAg3Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">HSH Nordbank AG $64,500 facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HshNordbankAg3SupplementalAgreementMember" xlink:label="sblk_HshNordbankAg3SupplementalAgreementMember"/>
    <label xlink:type="resource" xlink:label="sblk_HshNordbankAg3SupplementalAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Hsh Nordbank Ag 3 Supplemental Agreement [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">HSH Nordbank AG $64,500 facility, Supplemental Agreement</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HshNordbankAgMember" xlink:label="sblk_HshNordbankAgMember"/>
    <label xlink:type="resource" xlink:label="sblk_HshNordbankAgMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The credit facility HSH Nordbank AG $35,000.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Hsh Nordbank Ag [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HshNordbankAgMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">HSH Nordbank AG (Loan agreement dated October 3, 2011)</label>
    <label xlink:type="resource" xlink:label="sblk_HshNordbankAgMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">HSH Nordbank AG $35,000 facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Hull1338Member" xlink:label="sblk_Hull1338Member"/>
    <label xlink:type="resource" xlink:label="sblk_Hull1338Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN 1338 (tbn Star Aries).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Hull 1338 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_Hull1338Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Hull 1338 (tbn Star Aries)</label>
    <label xlink:type="resource" xlink:label="sblk_Hull1338Member_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">HN 1338 (tbn Star Aries)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Hull1339Member" xlink:label="sblk_Hull1339Member"/>
    <label xlink:type="resource" xlink:label="sblk_Hull1339Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN 1339 (tbn Star Taurus).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Hull 1339 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_Hull1339Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Hull 1339 (tbn Star Taurus)</label>
    <label xlink:type="resource" xlink:label="sblk_Hull1339Member_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">HN 1339 (tbn Star Taurus)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Hull1342Member" xlink:label="sblk_Hull1342Member"/>
    <label xlink:type="resource" xlink:label="sblk_Hull1342Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN 1342 (tbn Star Gemini).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Hull 1342 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_Hull1342Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Hull 1342 (tbn Star Gemini)</label>
    <label xlink:type="resource" xlink:label="sblk_Hull1342Member_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">HN 1342 (tbn Star Gemini)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Hull1343Member" xlink:label="sblk_Hull1343Member"/>
    <label xlink:type="resource" xlink:label="sblk_Hull1343Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN 1343 (tbn Star Leo).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Hull 1343 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_Hull1343Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Hull 1343 (tbn Star Leo)</label>
    <label xlink:type="resource" xlink:label="sblk_Hull1343Member_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">HN 1343 (tbn Star Leo)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Hull5040Member" xlink:label="sblk_Hull5040Member"/>
    <label xlink:type="resource" xlink:label="sblk_Hull5040Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN 5040 (tbn Star Aquarius).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Hull 5040 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_Hull5040Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Hull 5040 (tbn Star Aquarius)</label>
    <label xlink:type="resource" xlink:label="sblk_Hull5040Member_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">HN 5040 (tbn Star Aquarius)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Hull5043Member" xlink:label="sblk_Hull5043Member"/>
    <label xlink:type="resource" xlink:label="sblk_Hull5043Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN 5043 (tbn Star Pisces).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Hull 5043 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_Hull5043Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Hull 5043 (tbn Star Pisces)</label>
    <label xlink:type="resource" xlink:label="sblk_Hull5043Member_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">HN 5043 (tbn Star Pisces)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HullAndMachineryClaimMember" xlink:label="sblk_HullAndMachineryClaimMember"/>
    <label xlink:type="resource" xlink:label="sblk_HullAndMachineryClaimMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Hull And Machinery Claim [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Hull and Machinery Insurance Claim and Protection and Indemnity Claim</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HullNE196Member" xlink:label="sblk_HullNE196Member"/>
    <label xlink:type="resource" xlink:label="sblk_HullNE196Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN NE 196 (tbn Star Antares).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Hull NE 196 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HullNE196Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Hull NE 196 (tbn Star Antares)</label>
    <label xlink:type="resource" xlink:label="sblk_HullNE196Member_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">HN NE 196 (tbn Star Antares)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HullNE197Member" xlink:label="sblk_HullNE197Member"/>
    <label xlink:type="resource" xlink:label="sblk_HullNE197Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN NE 197 (Star Lutas).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Hull NE 197 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HullNE197Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Hull NE 197 (Star Lutas)</label>
    <label xlink:type="resource" xlink:label="sblk_HullNE197Member_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">HN NE 197 (Star Lutas)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HullNE198Member" xlink:label="sblk_HullNE198Member"/>
    <label xlink:type="resource" xlink:label="sblk_HullNE198Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN NE 198 (tbn Star Poseidon).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Hull NE 198 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HullNE198Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Hull NE 198 (tbn Star Poseidon)</label>
    <label xlink:type="resource" xlink:label="sblk_HullNE198Member_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">HN NE 198 (tbn Star Poseidon)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HullNo1371Member" xlink:label="sblk_HullNo1371Member"/>
    <label xlink:type="resource" xlink:label="sblk_HullNo1371Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN 1371 (tbn Star Virgo).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Hull No 1371 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HullNo1371Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Hull 1371 (tbn Star Virgo)</label>
    <label xlink:type="resource" xlink:label="sblk_HullNo1371Member_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">HN 1371 (tbn Star Virgo) (1)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_HullNo1372Member" xlink:label="sblk_HullNo1372Member"/>
    <label xlink:type="resource" xlink:label="sblk_HullNo1372Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel HN 1372 (tbn Star Libra).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Hull No 1372 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_HullNo1372Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Libra (1)</label>
    <label xlink:type="resource" xlink:label="sblk_HullNo1372Member_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">HN 1372 (tbn Star Libra)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_IdeeFixeMember" xlink:label="sblk_IdeeFixeMember"/>
    <label xlink:type="resource" xlink:label="sblk_IdeeFixeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Idee FIxe.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Idee Fixe [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_IdeeFixeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Idee Fixe (1)</label>
    <label xlink:type="resource" xlink:label="sblk_IdeeFixeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Idee Fixe</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_IdeeFixeRobertaLauraKaleyStarMarisaStarLibraMember" xlink:label="sblk_IdeeFixeRobertaLauraKaleyStarMarisaStarLibraMember"/>
    <label xlink:type="resource" xlink:label="sblk_IdeeFixeRobertaLauraKaleyStarMarisaStarLibraMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Idee Fixe And Roberta And Laura And Kaley And Star Marisa And Star Libra [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_IdeeFixeRobertaLauraKaleyStarMarisaStarLibraMember" xlink:to="sblk_IdeeFixeRobertaLauraKaleyStarMarisaStarLibraMember_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_IdeeFixeRobertaLauraKaleyStarMarisaStarLibraMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Idee Fixe, Roberta, Laura, Kaley, Star Marisa and Star Libra</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_IndomitableMember" xlink:label="sblk_IndomitableMember"/>
    <label xlink:type="resource" xlink:label="sblk_IndomitableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Intomitable.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Indomitable [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_IndomitableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Indomitable</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_InflationAssumption" xlink:label="sblk_InflationAssumption"/>
    <label xlink:type="resource" xlink:label="sblk_InflationAssumption_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The assumption for the average rate of inflation.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Inflation Assumption</label>
    <label xlink:type="resource" xlink:label="sblk_InflationAssumption_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Inflation assumption</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_InsuranceCoverageMaximumAmount" xlink:label="sblk_InsuranceCoverageMaximumAmount"/>
    <label xlink:type="resource" xlink:label="sblk_InsuranceCoverageMaximumAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The maximum amount of Protection and Indemnity (P&amp;I) insurance coverage for pollution, per vessel per incident.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Insurance Coverage Maximum Amount</label>
    <label xlink:type="resource" xlink:label="sblk_InsuranceCoverageMaximumAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Coverage for pollution</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_InterchartAcquisitionSharesIssuanceMember" xlink:label="sblk_InterchartAcquisitionSharesIssuanceMember"/>
    <label xlink:type="resource" xlink:label="sblk_InterchartAcquisitionSharesIssuanceMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Common shares issued as part of the acquisition of Interchart.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interchart Acquisition Shares Issuance [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_InterchartAcquisitionSharesIssuanceMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interchart Acquisition Shares Issuance</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_InterchartShippingIIMember" xlink:label="sblk_InterchartShippingIIMember"/>
    <label xlink:type="resource" xlink:label="sblk_InterchartShippingIIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The company Interchart Shipping Inc.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interchart Shipping II [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_InterchartShippingIIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interchart Shipping Inc</label>
    <label xlink:type="resource" xlink:label="sblk_InterchartShippingIIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Acquisition of 33% of Interchart (Note 10)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_InterchartShippingMember" xlink:label="sblk_InterchartShippingMember"/>
    <label xlink:type="resource" xlink:label="sblk_InterchartShippingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The company Interchart Shipping Inc.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interchart Shipping [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_InterchartShippingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interchart Shipping Inc.</label>
    <label xlink:type="resource" xlink:label="sblk_InterchartShippingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interchart</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_InterchartSoceAdjustmentsMember" xlink:label="sblk_InterchartSoceAdjustmentsMember"/>
    <label xlink:type="resource" xlink:label="sblk_InterchartSoceAdjustmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interchart Soce Adjustments [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Acquisition of 33% of Interchart (Note 9)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_InterestFinanceCostsTableTextBlock" xlink:label="sblk_InterestFinanceCostsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="sblk_InterestFinanceCostsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of interest and finance costs.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest And Finance Costs [Table Text Block]</label>
    <label xlink:type="resource" xlink:label="sblk_InterestFinanceCostsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interest and finance costs</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_InterestRateDerivativeGainLossRealizedInEarningsNet" xlink:label="sblk_InterestRateDerivativeGainLossRealizedInEarningsNet"/>
    <label xlink:type="resource" xlink:label="sblk_InterestRateDerivativeGainLossRealizedInEarningsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of gain (loss) included in earnings for the period from the settlement of interest rate derivatives not designated as hedging instruments.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Rate Derivative Gain Loss Realized In Earnings Net</label>
    <label xlink:type="resource" xlink:label="sblk_InterestRateDerivativeGainLossRealizedInEarningsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Realized gain/(loss) from the Interest rate swaps agreements</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_InterestRateSwap1Member" xlink:label="sblk_InterestRateSwap1Member"/>
    <label xlink:type="resource" xlink:label="sblk_InterestRateSwap1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The first interest rate swap agreement with Credit Agricole Corporate and Investment Bank.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Rate Swap1 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_InterestRateSwap1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interest Rate Swap A - fix forward floating interest rate for first tranche of Credit Agricole $70,000 Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_InterestRateSwap2Member" xlink:label="sblk_InterestRateSwap2Member"/>
    <label xlink:type="resource" xlink:label="sblk_InterestRateSwap2Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The second interest rate swap agreement with Credit Agricole Corporate and Investment Bank.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Rate Swap2 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_InterestRateSwap2Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interest Rate Swap B - fix forward floating interest rate for second tranche of Credit Agricole $70,000 Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_InterestRateSwapsMember" xlink:label="sblk_InterestRateSwapsMember"/>
    <label xlink:type="resource" xlink:label="sblk_InterestRateSwapsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">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>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Rate Swaps [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_InterestRateSwapsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interest rate swaps (gain)/loss</label>
    <label xlink:type="resource" xlink:label="sblk_InterestRateSwapsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest Rate Swaps</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Issuance50MillionNotesMember" xlink:label="sblk_Issuance50MillionNotesMember"/>
    <label xlink:type="resource" xlink:label="sblk_Issuance50MillionNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The 2019 Senior Notes.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Issuance of 50 Million Notes [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_Issuance50MillionNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">8.00% 2019 Notes</label>
    <label xlink:type="resource" xlink:label="sblk_Issuance50MillionNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">8.00% 2019 Notes</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue" xlink:label="sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue"/>
    <label xlink:type="resource" xlink:label="sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The total value of vested and non-vested shares issued during the period and the total amount of stock based compensation amortized.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Issuance Of Vested And Non Vested Shares Amortization Stock Based Compensation Value</label>
    <label xlink:type="resource" xlink:label="sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Amortization of stock-based compensation (Note 12), value</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_KaleyMember" xlink:label="sblk_KaleyMember"/>
    <label xlink:type="resource" xlink:label="sblk_KaleyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Kaley.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Kaley [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_KaleyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Kaley (1)</label>
    <label xlink:type="resource" xlink:label="sblk_KaleyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Kaley</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_KamsarmaxVesselsMember" xlink:label="sblk_KamsarmaxVesselsMember"/>
    <label xlink:type="resource" xlink:label="sblk_KamsarmaxVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Kamsarmax vessels.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Kamsarmax Vessels [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_KamsarmaxVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Kamsarmax vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_KennadiMember" xlink:label="sblk_KennadiMember"/>
    <label xlink:type="resource" xlink:label="sblk_KennadiMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Kennadi [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Kennadi</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_KoreaLineCorporationMember" xlink:label="sblk_KoreaLineCorporationMember"/>
    <label xlink:type="resource" xlink:label="sblk_KoreaLineCorporationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The company Korea Line Corporation</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Korea Line Corporation [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_KoreaLineCorporationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Korea Line Crporation ("KLC")</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_KymopoliaIMember" xlink:label="sblk_KymopoliaIMember"/>
    <label xlink:type="resource" xlink:label="sblk_KymopoliaIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Kymopolia.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Kymopolia I [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_KymopoliaIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Kymopolia</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_LastFourInstallmentsMember" xlink:label="sblk_LastFourInstallmentsMember"/>
    <label xlink:type="resource" xlink:label="sblk_LastFourInstallmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Last Four Installments [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Last four installments</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_LastSixteenInstallmentsMember" xlink:label="sblk_LastSixteenInstallmentsMember"/>
    <label xlink:type="resource" xlink:label="sblk_LastSixteenInstallmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The last sixteen installments of a cash favorable payment upon settlement of a legal threat made to another party.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Last Sixteen Installments [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_LastSixteenInstallmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Last sixteen installments</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_LastTwentyInstallmentsMember" xlink:label="sblk_LastTwentyInstallmentsMember"/>
    <label xlink:type="resource" xlink:label="sblk_LastTwentyInstallmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Last Twenty Installments [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Last twenty installments</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_LauraMember" xlink:label="sblk_LauraMember"/>
    <label xlink:type="resource" xlink:label="sblk_LauraMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Laura.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Laura [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_LauraMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Laura (1)</label>
    <label xlink:type="resource" xlink:label="sblk_LauraMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Laura</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_LeaseAgreementsMaximumAmountToFinanceConstructionCost" xlink:label="sblk_LeaseAgreementsMaximumAmountToFinanceConstructionCost"/>
    <label xlink:type="resource" xlink:label="sblk_LeaseAgreementsMaximumAmountToFinanceConstructionCost_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The maximum amount, agreed under a lease arrangement, to finance construction cost.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Lease agreements, maximum amount to finance construction cost</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_LegalSettlementsSharesAcquired" xlink:label="sblk_LegalSettlementsSharesAcquired"/>
    <label xlink:type="resource" xlink:label="sblk_LegalSettlementsSharesAcquired_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The number of shares acquired in a non-cash or part non-cash transaction.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Legal Settlements Shares Acquired</label>
    <label xlink:type="resource" xlink:label="sblk_LegalSettlementsSharesAcquired_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Number of shares received</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_LeviathanAndPeloreusMember" xlink:label="sblk_LeviathanAndPeloreusMember"/>
    <label xlink:type="resource" xlink:label="sblk_LeviathanAndPeloreusMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Leviathan And Peloreus [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Leviathan and Peloreus</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_LeviathanMember" xlink:label="sblk_LeviathanMember"/>
    <label xlink:type="resource" xlink:label="sblk_LeviathanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Leviathan.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Leviathan [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_LeviathanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Leviathan</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_LineOfCreditFacilityNumberOfRepaymentInstallment" xlink:label="sblk_LineOfCreditFacilityNumberOfRepaymentInstallment"/>
    <label xlink:type="resource" xlink:label="sblk_LineOfCreditFacilityNumberOfRepaymentInstallment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Number of repayment installments of a credit facility agreement.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Line Of Credit Facility Number Of Repayment Installment</label>
    <label xlink:type="resource" xlink:label="sblk_LineOfCreditFacilityNumberOfRepaymentInstallment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Number of installments</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ListNewbuildingsTableTextBlock" xlink:label="sblk_ListNewbuildingsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="sblk_ListNewbuildingsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of the entity's newbuildings.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">List Of Newbuildings [Table Text Block]</label>
    <label xlink:type="resource" xlink:label="sblk_ListNewbuildingsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">List of Newbuildings</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ListNonVesselOwningSubsidiaries" xlink:label="sblk_ListNonVesselOwningSubsidiaries"/>
    <label xlink:type="resource" xlink:label="sblk_ListNonVesselOwningSubsidiaries_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of the entity's non-vessel owning subsidiaries.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">List Of Non Vessel Owning Subsidiaries</label>
    <label xlink:type="resource" xlink:label="sblk_ListNonVesselOwningSubsidiaries_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">List of Non-vessel owning subsidiaries</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ListOfSubsidiariesTableTextBlock" xlink:label="sblk_ListOfSubsidiariesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="sblk_ListOfSubsidiariesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of the entity's subsidiaries.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">List Of Subsidiaries [Table Text Block]</label>
    <label xlink:type="resource" xlink:label="sblk_ListOfSubsidiariesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">List of Subsidiaries</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock" xlink:label="sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock"/>
    <label xlink:type="resource" xlink:label="sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of vessels under commercial and technical management.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">List Of Vessels Under Commercial And Technical Management [Table Text Block]</label>
    <label xlink:type="resource" xlink:label="sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">List of vessels under commercial and technical management by Starbulk S.A.</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_LitigationSettlementPeriodicPayment" xlink:label="sblk_LitigationSettlementPeriodicPayment"/>
    <label xlink:type="resource" xlink:label="sblk_LitigationSettlementPeriodicPayment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of the required periodic payments.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Litigation Settlement Periodic Payment</label>
    <label xlink:type="resource" xlink:label="sblk_LitigationSettlementPeriodicPayment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Amount per installment</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_LossOffHire" xlink:label="sblk_LossOffHire"/>
    <label xlink:type="resource" xlink:label="sblk_LossOffHire_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Revenue loss due to off hire.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss Off Hire</label>
    <label xlink:type="resource" xlink:label="sblk_LossOffHire_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Revenue loss due to off hire</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_LowlandsBeilunMember" xlink:label="sblk_LowlandsBeilunMember"/>
    <label xlink:type="resource" xlink:label="sblk_LowlandsBeilunMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Despoina.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Lowlands Beilun [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_LowlandsBeilunMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Despoina</label>
    <label xlink:type="resource" xlink:label="sblk_LowlandsBeilunMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Star Despoina (ex Lowlands Beilun)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_LubricantsExpense" xlink:label="sblk_LubricantsExpense"/>
    <label xlink:type="resource" xlink:label="sblk_LubricantsExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The cost of lubricants consumed during the period.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Lubricants Expense</label>
    <label xlink:type="resource" xlink:label="sblk_LubricantsExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Lubricants</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_LubricantsInventoryCurrent" xlink:label="sblk_LubricantsInventoryCurrent"/>
    <label xlink:type="resource" xlink:label="sblk_LubricantsInventoryCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Carrying amount as of the balance sheet date of lubricants' inventory.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Lubricants Inventory Current</label>
    <label xlink:type="resource" xlink:label="sblk_LubricantsInventoryCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Lubricants</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_MackenzieMember" xlink:label="sblk_MackenzieMember"/>
    <label xlink:type="resource" xlink:label="sblk_MackenzieMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Mackenzie [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Mackenzie</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_MadredeusAndAmamiMember" xlink:label="sblk_MadredeusAndAmamiMember"/>
    <label xlink:type="resource" xlink:label="sblk_MadredeusAndAmamiMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Madredeus And Amami [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Madredeus and Amami</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_MadredeusIMember" xlink:label="sblk_MadredeusIMember"/>
    <label xlink:type="resource" xlink:label="sblk_MadredeusIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Madredeus.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Madredeus I [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_MadredeusIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Madredeus</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_MagnumOpusMember" xlink:label="sblk_MagnumOpusMember"/>
    <label xlink:type="resource" xlink:label="sblk_MagnumOpusMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Magnum Opus.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Magnum Opus [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_MagnumOpusMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Magnum Opus</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_MaharajMember" xlink:label="sblk_MaharajMember"/>
    <label xlink:type="resource" xlink:label="sblk_MaharajMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Maharaj [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Maharaj</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_MaidenVoyageIMember" xlink:label="sblk_MaidenVoyageIMember"/>
    <label xlink:type="resource" xlink:label="sblk_MaidenVoyageIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Maiden Voyage.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Maiden Voyage I [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_MaidenVoyageIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Maiden Voyage</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ManagedVesselsOceanBulkShippingMember" xlink:label="sblk_ManagedVesselsOceanBulkShippingMember"/>
    <label xlink:type="resource" xlink:label="sblk_ManagedVesselsOceanBulkShippingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Managed Vessels of Oceanbulk Shipping LLC.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Managed Vessels OceanBulk Shipping [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_ManagedVesselsOceanBulkShippingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Managed Vessels of Oceanbulk Shipping LLC</label>
    <label xlink:type="resource" xlink:label="sblk_ManagedVesselsOceanBulkShippingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Managed Vessels of Oceanbulk Shipping LLC</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ManagementFeesTextBlock" xlink:label="sblk_ManagementFeesTextBlock"/>
    <label xlink:type="resource" xlink:label="sblk_ManagementFeesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The entire disclosure for management fees.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">ManagementFees [Text Block]</label>
    <label xlink:type="resource" xlink:label="sblk_ManagementFeesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Management fees:</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_MartoMember" xlink:label="sblk_MartoMember"/>
    <label xlink:type="resource" xlink:label="sblk_MartoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Marto.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Marto [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_MartoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Marto</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_MaryvilleMaritimeIncMember" xlink:label="sblk_MaryvilleMaritimeIncMember"/>
    <label xlink:type="resource" xlink:label="sblk_MaryvilleMaritimeIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The company Maryville Maritime Inc.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Maryville Maritime Inc [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_MaryvilleMaritimeIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Maryville Maritime Inc.</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_MediumtermNotesNoncurrentGross" xlink:label="sblk_MediumtermNotesNoncurrentGross"/>
    <label xlink:type="resource" xlink:label="sblk_MediumtermNotesNoncurrentGross_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Carrying value, before unamortized discount, 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.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_MediumtermNotesNoncurrentGross" xlink:to="sblk_MediumtermNotesNoncurrentGross_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_MediumtermNotesNoncurrentGross_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Mediumterm Notes Noncurrent Gross</label>
    <label xlink:type="resource" xlink:label="sblk_MediumtermNotesNoncurrentGross_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">8.00% 2019 Notes</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_MegalodonMember" xlink:label="sblk_MegalodonMember"/>
    <label xlink:type="resource" xlink:label="sblk_MegalodonMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Megalodon [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Megalodon</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_MercurialVirgoIMember" xlink:label="sblk_MercurialVirgoIMember"/>
    <label xlink:type="resource" xlink:label="sblk_MercurialVirgoIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Mercurial Virgo.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Mercurial Virgo I [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_MercurialVirgoIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Mercurial Virgo</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_MergerPappasTransaction2Member" xlink:label="sblk_MergerPappasTransaction2Member"/>
    <label xlink:type="resource" xlink:label="sblk_MergerPappasTransaction2Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">MergerPappasTransaction2Member</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Merger and Pappas Transaction</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_MergerPappasTransactionMember" xlink:label="sblk_MergerPappasTransactionMember"/>
    <label xlink:type="resource" xlink:label="sblk_MergerPappasTransactionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Transactions that resulted in the acquisition of the Oceanbulk holding companies and the "Pappas Companies".</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Merger And Pappas Transaction [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_MergerPappasTransactionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Merger and Pappas Transaction</label>
    <label xlink:type="resource" xlink:label="sblk_MergerPappasTransactionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Merger and Pappas Transaction - five newbuilding vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_MergerPappasTransactionSoceAdjustmentsMember" xlink:label="sblk_MergerPappasTransactionSoceAdjustmentsMember"/>
    <label xlink:type="resource" xlink:label="sblk_MergerPappasTransactionSoceAdjustmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Merger Pappas Transaction Soce Adjustments [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Merger &amp; Pappas Transaction (Note 1)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_MinimumLiquidFundsMember" xlink:label="sblk_MinimumLiquidFundsMember"/>
    <label xlink:type="resource" xlink:label="sblk_MinimumLiquidFundsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The minimum liquid funds that the company is required to maintain under the credit facility covenant terms.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Minimum Liquid Funds [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_MinimumLiquidFundsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Company's Minimum Liquid Funds</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_MinimumLiquidFundsPerVesselMember" xlink:label="sblk_MinimumLiquidFundsPerVesselMember"/>
    <label xlink:type="resource" xlink:label="sblk_MinimumLiquidFundsPerVesselMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The minimum liquid funds per vessel that the company is required to maintain under the credit facility covenant terms.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Minimum Liquid Funds Per Vessel [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_MinimumLiquidFundsPerVesselMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Minimum Liquid Funds per Vessel</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_NIBCFacilityMember" xlink:label="sblk_NIBCFacilityMember"/>
    <label xlink:type="resource" xlink:label="sblk_NIBCFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The credit facility NIBC $32,000.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">NIBC Facility [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_NIBCFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">NIBC $32,000 Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_NetCashProceedsFromCertainAssetSalesMember" xlink:label="sblk_NetCashProceedsFromCertainAssetSalesMember"/>
    <label xlink:type="resource" xlink:label="sblk_NetCashProceedsFromCertainAssetSalesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net Cash Proceeds From Certain Asset Sales [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Net cash proceeds from certain asset sales</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare" xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare"/>
    <label xlink:type="resource" xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of the effect of a change in accounting estimate on basic and diluted earnings per share.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Effect of change in accounting estimate, loss on basic and diluted earnings per share</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome" xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome"/>
    <label xlink:type="resource" xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of the effect of a change in accounting estimate on net income.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">New Accounting Pronouncement Or Change In Accounting Estimate Effect Of Change On Net Income</label>
    <label xlink:type="resource" xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Effect of change in acounting estimate, decrease of charge to net income / (loss)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_NewServicesAgreementMember" xlink:label="sblk_NewServicesAgreementMember"/>
    <label xlink:type="resource" xlink:label="sblk_NewServicesAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">New services agreement with related parties for chartering, brokering and commercial services.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">New Services Agreement [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_NewServicesAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">New Services Agreement</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_NewYangzijiangVesselsMember" xlink:label="sblk_NewYangzijiangVesselsMember"/>
    <label xlink:type="resource" xlink:label="sblk_NewYangzijiangVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessels being built an New Yangzijiang shipyard.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">New Yangzijiang Vessels [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_NewYangzijiangVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">New Yangzijiang Vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_NewbuildingVesselsMember" xlink:label="sblk_NewbuildingVesselsMember"/>
    <label xlink:type="resource" xlink:label="sblk_NewbuildingVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Newbuilding vessels.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Newbuilding Vessels [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_NewbuildingVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Newbuilding Vessels or Lease Agreements</label>
    <label xlink:type="resource" xlink:label="sblk_NewbuildingVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Newbuildings</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_NewcastlemaxVesselsMember" xlink:label="sblk_NewcastlemaxVesselsMember"/>
    <label xlink:type="resource" xlink:label="sblk_NewcastlemaxVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Newcastlemax Vessels [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Newcastlemax vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_NonExecutiveDirectorsCompensation" xlink:label="sblk_NonExecutiveDirectorsCompensation"/>
    <label xlink:type="resource" xlink:label="sblk_NonExecutiveDirectorsCompensation_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Expenditures for compensation for non executive officers.Examples include, but not limited to, Board of Director's attendance fees.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Non Executive Directors Compensation</label>
    <label xlink:type="resource" xlink:label="sblk_NonExecutiveDirectorsCompensation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Non-executive directors compensation</label>
    <label xlink:type="resource" xlink:label="sblk_NonExecutiveDirectorsCompensation_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Compensation</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_NonExecutiveDirectorsMember" xlink:label="sblk_NonExecutiveDirectorsMember"/>
    <label xlink:type="resource" xlink:label="sblk_NonExecutiveDirectorsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Non-executive directors of the company.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Non Executive Directors [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_NonExecutiveDirectorsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Non-executive directors</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_NumberOfDirectors" xlink:label="sblk_NumberOfDirectors"/>
    <label xlink:type="resource" xlink:label="sblk_NumberOfDirectors_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The number of directors constituting the Board of Directors.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Number Of Directors</label>
    <label xlink:type="resource" xlink:label="sblk_NumberOfDirectors_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Number of directors</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_NumberOfInstallments" xlink:label="sblk_NumberOfInstallments"/>
    <label xlink:type="resource" xlink:label="sblk_NumberOfInstallments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Number of payment installments.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Number Of Installments</label>
    <label xlink:type="resource" xlink:label="sblk_NumberOfInstallments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Number of installments</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_NumberOfLoanTranches" xlink:label="sblk_NumberOfLoanTranches"/>
    <label xlink:type="resource" xlink:label="sblk_NumberOfLoanTranches_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The number of tranches under the credit facility.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Number Of Loan Tranches</label>
    <label xlink:type="resource" xlink:label="sblk_NumberOfLoanTranches_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Number of loan tranches</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_NumberOfNewbuildingContractsTerminated" xlink:label="sblk_NumberOfNewbuildingContractsTerminated"/>
    <label xlink:type="resource" xlink:label="sblk_NumberOfNewbuildingContractsTerminated_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The number of newbuilding contracts terminated.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Number Of Newbuilding Contracts Terminated</label>
    <label xlink:type="resource" xlink:label="sblk_NumberOfNewbuildingContractsTerminated_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Number of newbuilding contracts terminated</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_NumberOfNewbuildingContracts" xlink:label="sblk_NumberOfNewbuildingContracts"/>
    <label xlink:type="resource" xlink:label="sblk_NumberOfNewbuildingContracts_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The number of newbuildings contracts acquired.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Number Of Newbuilding Contracts</label>
    <label xlink:type="resource" xlink:label="sblk_NumberOfNewbuildingContracts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Number of contracts for Newbuildings acquired</label>
    <label xlink:type="resource" xlink:label="sblk_NumberOfNewbuildingContracts_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Number of newbuilding contracts</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_NumberOfVesselFinancedByDebtInstrument" xlink:label="sblk_NumberOfVesselFinancedByDebtInstrument"/>
    <label xlink:type="resource" xlink:label="sblk_NumberOfVesselFinancedByDebtInstrument_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The number of vessels financed by the debt instrument.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Number Of Vessel Financed By Debt Instrument</label>
    <label xlink:type="resource" xlink:label="sblk_NumberOfVesselFinancedByDebtInstrument_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Number of vessels financed</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_NumberOfVessels" xlink:label="sblk_NumberOfVessels"/>
    <label xlink:type="resource" xlink:label="sblk_NumberOfVessels_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The number of vessels.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Number Of Vessels</label>
    <label xlink:type="resource" xlink:label="sblk_NumberOfVessels_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Number of vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_OaktreeMember" xlink:label="sblk_OaktreeMember"/>
    <label xlink:type="resource" xlink:label="sblk_OaktreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Oaktree [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Oaktree</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_OaktreeShareholdersAgreementMember" xlink:label="sblk_OaktreeShareholdersAgreementMember"/>
    <label xlink:type="resource" xlink:label="sblk_OaktreeShareholdersAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Oaktree Shareholders Agreement [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Shareholders Agreement</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ObelixIMember" xlink:label="sblk_ObelixIMember"/>
    <label xlink:type="resource" xlink:label="sblk_ObelixIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Obelix.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Obelix I [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_ObelixIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Obelix</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_OceanbulkIMember" xlink:label="sblk_OceanbulkIMember"/>
    <label xlink:type="resource" xlink:label="sblk_OceanbulkIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Oceanbulk holding companies.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Oceanbulk I [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_OceanbulkIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Oceanbulk</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_OceanbulkMaritimeMember" xlink:label="sblk_OceanbulkMaritimeMember"/>
    <label xlink:type="resource" xlink:label="sblk_OceanbulkMaritimeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The company OceanBulk Maritime.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Oceanbulk Maritime [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_OceanbulkMaritimeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Oceanbulk Maritime S.A. and its affiliates</label>
    <label xlink:type="resource" xlink:label="sblk_OceanbulkMaritimeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Oceanbulk Maritime S.A.</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_OceanbulkMaritimeSoceAdjustmentsMember" xlink:label="sblk_OceanbulkMaritimeSoceAdjustmentsMember"/>
    <label xlink:type="resource" xlink:label="sblk_OceanbulkMaritimeSoceAdjustmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Oceanbulk Maritime Soce Adjustments [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Oceanbulk Maritime (Note 3)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_OceanbulkSellersMember" xlink:label="sblk_OceanbulkSellersMember"/>
    <label xlink:type="resource" xlink:label="sblk_OceanbulkSellersMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Oceanbulk Sellers.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Oceanbulk Sellers [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_OceanbulkSellersMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Oceanbulk Sellers</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_OffHireDays" xlink:label="sblk_OffHireDays"/>
    <label xlink:type="resource" xlink:label="sblk_OffHireDays_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The time during which the vessel is off-hire.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Off Hire Days</label>
    <label xlink:type="resource" xlink:label="sblk_OffHireDays_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Off hire days</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_OfficeRentMember" xlink:label="sblk_OfficeRentMember"/>
    <label xlink:type="resource" xlink:label="sblk_OfficeRentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Office Rent [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Office rent</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_OperatingVesselsSoldAndDeliveredMember" xlink:label="sblk_OperatingVesselsSoldAndDeliveredMember"/>
    <label xlink:type="resource" xlink:label="sblk_OperatingVesselsSoldAndDeliveredMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operating Vessels Sold And Delivered [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Operating vessels sold and delivered</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_OperatingVesselsSoldButNotYetDeliveredMember" xlink:label="sblk_OperatingVesselsSoldButNotYetDeliveredMember"/>
    <label xlink:type="resource" xlink:label="sblk_OperatingVesselsSoldButNotYetDeliveredMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operating Vessels Sold But NotYet Delivered [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Operating vessels sold but not yet delivered</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_OtherComprehensiveIncomeLossAbstract" xlink:label="sblk_OtherComprehensiveIncomeLossAbstract"/>
    <label xlink:type="resource" xlink:label="sblk_OtherComprehensiveIncomeLossAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other comprehensive income loss [abstract]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Other comprehensive loss:</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_OtherOperationalGainTextBlock" xlink:label="sblk_OtherOperationalGainTextBlock"/>
    <label xlink:type="resource" xlink:label="sblk_OtherOperationalGainTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The entire disclosure for other operational gain.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Operational Gain [Text Block]</label>
    <label xlink:type="resource" xlink:label="sblk_OtherOperationalGainTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Other operational gain</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_OtherOperationalLossTextBlock" xlink:label="sblk_OtherOperationalLossTextBlock"/>
    <label xlink:type="resource" xlink:label="sblk_OtherOperationalLossTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The entire disclosure for other operational loss.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Operational Loss [Text Block]</label>
    <label xlink:type="resource" xlink:label="sblk_OtherOperationalLossTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Other operational loss</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_OtherVesselAcquisitionCosts" xlink:label="sblk_OtherVesselAcquisitionCosts"/>
    <label xlink:type="resource" xlink:label="sblk_OtherVesselAcquisitionCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of extra fees related to acquisition of property, plant and equipment.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Vessel Acquisition Costs</label>
    <label xlink:type="resource" xlink:label="sblk_OtherVesselAcquisitionCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Other expenses capitalized</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_PanamaxVesselsMember" xlink:label="sblk_PanamaxVesselsMember"/>
    <label xlink:type="resource" xlink:label="sblk_PanamaxVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Panamax vessels.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Panamax Vessels [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_PanamaxVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Panamax vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_PantagruelIMember" xlink:label="sblk_PantagruelIMember"/>
    <label xlink:type="resource" xlink:label="sblk_PantagruelIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Pantagruel.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Pantagruel I [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_PantagruelIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Pantagruel</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_PappasCompaniesMember" xlink:label="sblk_PappasCompaniesMember"/>
    <label xlink:type="resource" xlink:label="sblk_PappasCompaniesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The companies Dioriga Shipping Co. and Positive Shipping Company, collectively the "Pappas Companies".</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Pappas Companies [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_PappasCompaniesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Pappas Companies</label>
    <label xlink:type="resource" xlink:label="sblk_PappasCompaniesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Merger &amp; Pappas Transaction (Note 1)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_PaymentsForPostemploymentBenefitsShares" xlink:label="sblk_PaymentsForPostemploymentBenefitsShares"/>
    <label xlink:type="resource" xlink:label="sblk_PaymentsForPostemploymentBenefitsShares_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">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>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Payments For Postemployment Benefits Shares</label>
    <label xlink:type="resource" xlink:label="sblk_PaymentsForPostemploymentBenefitsShares_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Severance payments,common shares</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_PaymentsToAcquireAboveMarketAcquiredTimeCharters" xlink:label="sblk_PaymentsToAcquireAboveMarketAcquiredTimeCharters"/>
    <label xlink:type="resource" xlink:label="sblk_PaymentsToAcquireAboveMarketAcquiredTimeCharters_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The cash outflow to acquire above market charters.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Payments To Acquire Above Market Acquired Time Charters</label>
    <label xlink:type="resource" xlink:label="sblk_PaymentsToAcquireAboveMarketAcquiredTimeCharters_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Cash paid for above market acquired time charters (Note 7)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_PeloreusMember" xlink:label="sblk_PeloreusMember"/>
    <label xlink:type="resource" xlink:label="sblk_PeloreusMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Peloreus.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Peloreus [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_PeloreusMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Peloreus</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_PendulumIMember" xlink:label="sblk_PendulumIMember"/>
    <label xlink:type="resource" xlink:label="sblk_PendulumIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Pendulum.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Pendulum I [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_PendulumIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Pendulum</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock" xlink:label="sblk_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="sblk_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Disclosure of accounting policy for administrative personnel pension plans of the Company.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Pension Retirement Benefit Obligations Administrative Personnel [Policy Text Block]</label>
    <label xlink:type="resource" xlink:label="sblk_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Pension indemnities</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_PercentOfQuarterlyInstallmentsDeferred" xlink:label="sblk_PercentOfQuarterlyInstallmentsDeferred"/>
    <label xlink:type="resource" xlink:label="sblk_PercentOfQuarterlyInstallmentsDeferred_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Percent of quarterly installments deferred.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Percent Of Quarterly Installments Deferred</label>
    <label xlink:type="resource" xlink:label="sblk_PercentOfQuarterlyInstallmentsDeferred_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Percent of quarterly installments deferred</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_PercentageOfFutureProceedsSold" xlink:label="sblk_PercentageOfFutureProceedsSold"/>
    <label xlink:type="resource" xlink:label="sblk_PercentageOfFutureProceedsSold_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The percentage of future proceeds sold to a third party related to the settlement of certain of the commercial claims.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Percentage Of Future Proceeds Sold</label>
    <label xlink:type="resource" xlink:label="sblk_PercentageOfFutureProceedsSold_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Percentage of future proceeds sold</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_PeriodicPaymentsDeferredAmount" xlink:label="sblk_PeriodicPaymentsDeferredAmount"/>
    <label xlink:type="resource" xlink:label="sblk_PeriodicPaymentsDeferredAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of periodic payments deferred.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Periodic Payments Deferred, Amount</label>
    <label xlink:type="resource" xlink:label="sblk_PeriodicPaymentsDeferredAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Periodic payments, amount deferred</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_PiraeusBankS.A.TermLoanBMember" xlink:label="sblk_PiraeusBankS.A.TermLoanBMember"/>
    <label xlink:type="resource" xlink:label="sblk_PiraeusBankS.A.TermLoanBMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Piraeus Bank S.A. Term Loan B [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Piraeus Bank S.A. Term Loan B</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_PiraeusBankS.A.TermLoanMember" xlink:label="sblk_PiraeusBankS.A.TermLoanMember"/>
    <label xlink:type="resource" xlink:label="sblk_PiraeusBankS.A.TermLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Piraeus Bank S.A. Term Loan A [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Piraeus Bank S.A. Term Loan A</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_PiraeusBankS.A.TermLoansMember" xlink:label="sblk_PiraeusBankS.A.TermLoansMember"/>
    <label xlink:type="resource" xlink:label="sblk_PiraeusBankS.A.TermLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Piraeus Bank S.A. Term Loans [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Piraeus Bank S.A. Term Loans</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_PoolAgreementMember" xlink:label="sblk_PoolAgreementMember"/>
    <label xlink:type="resource" xlink:label="sblk_PoolAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Pool Agreement [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Pool agreement ("CCL")</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_PortCharges" xlink:label="sblk_PortCharges"/>
    <label xlink:type="resource" xlink:label="sblk_PortCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amounts charged by port authorities for the use of infrastructure.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Port Charges</label>
    <label xlink:type="resource" xlink:label="sblk_PortCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Port charges</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember" xlink:label="sblk_PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember"/>
    <label xlink:type="resource" xlink:label="sblk_PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Possibility Of Sale Of Operating Vessels And Newbuildings [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Possibility of a sale of certain additional operating vessels and newbuildings</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ProceedsFromCancellationOfVesselsUnderConstruction" xlink:label="sblk_ProceedsFromCancellationOfVesselsUnderConstruction"/>
    <label xlink:type="resource" xlink:label="sblk_ProceedsFromCancellationOfVesselsUnderConstruction_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The cash inflow associated with the reassignment of the leases for newbuilding vessels back to the vessels' owner.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds From Cancellation Of Vessels Under Construction</label>
    <label xlink:type="resource" xlink:label="sblk_ProceedsFromCancellationOfVesselsUnderConstruction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Proceeds from cancellation of vessels under construction</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ProceedsReceivedOnTransferClaim" xlink:label="sblk_ProceedsReceivedOnTransferClaim"/>
    <label xlink:type="resource" xlink:label="sblk_ProceedsReceivedOnTransferClaim_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Proceeds received on transfer of claim.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds Received On Transfer Claim</label>
    <label xlink:type="resource" xlink:label="sblk_ProceedsReceivedOnTransferClaim_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Proceeds received on transfer of claim</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ProcurementServicesDailyFee" xlink:label="sblk_ProcurementServicesDailyFee"/>
    <label xlink:type="resource" xlink:label="sblk_ProcurementServicesDailyFee_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The daily fee per vessel for procurement services.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Procurement Services Daily Fee</label>
    <label xlink:type="resource" xlink:label="sblk_ProcurementServicesDailyFee_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Procurement services daily fee</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ProductShippingTradingMember" xlink:label="sblk_ProductShippingTradingMember"/>
    <label xlink:type="resource" xlink:label="sblk_ProductShippingTradingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The company Product Shipping &amp; Trading S.A.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Product Shipping Trading [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_ProductShippingTradingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Product Shipping &amp; Trading S.A.</label>
    <label xlink:type="resource" xlink:label="sblk_ProductShippingTradingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Product Shipping &amp; Trading S.A</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_PurchasePriceObligation" xlink:label="sblk_PurchasePriceObligation"/>
    <label xlink:type="resource" xlink:label="sblk_PurchasePriceObligation_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Purchase price payable at the end of the bareboat charter.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Purchase Price Obligation</label>
    <label xlink:type="resource" xlink:label="sblk_PurchasePriceObligation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessel purchase price obligation</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_RebateAmount" xlink:label="sblk_RebateAmount"/>
    <label xlink:type="resource" xlink:label="sblk_RebateAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of rebate.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Rebate Amount</label>
    <label xlink:type="resource" xlink:label="sblk_RebateAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Rebate from previous manning agent</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_RebateFromPreviousManningAgentMember" xlink:label="sblk_RebateFromPreviousManningAgentMember"/>
    <label xlink:type="resource" xlink:label="sblk_RebateFromPreviousManningAgentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Rebate From Previous Manning Agent [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Rebate from Company's previous manning agent</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ReceivableConvertibleConversionRatio" xlink:label="sblk_ReceivableConvertibleConversionRatio"/>
    <label xlink:type="resource" xlink:label="sblk_ReceivableConvertibleConversionRatio_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Ratio applied to the conversion of receivable into equity with equity shares divided by the receivable amount in KRW.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Receivable Convertible Conversion Ratio</label>
    <label xlink:type="resource" xlink:label="sblk_ReceivableConvertibleConversionRatio_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Conversion ratio</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ReceivablePercentageOfAmountPaidInCash" xlink:label="sblk_ReceivablePercentageOfAmountPaidInCash"/>
    <label xlink:type="resource" xlink:label="sblk_ReceivablePercentageOfAmountPaidInCash_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The percentage of receivable amount paid in cash  in a part noncash transaction.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Receivable Percentage Of Amount Paid In Cash</label>
    <label xlink:type="resource" xlink:label="sblk_ReceivablePercentageOfAmountPaidInCash_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Percentage of amount paid in cash</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ReceivableRefundAmount" xlink:label="sblk_ReceivableRefundAmount"/>
    <label xlink:type="resource" xlink:label="sblk_ReceivableRefundAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of refund that the company is entitled to receive from the shipyards.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_ReceivableRefundAmount" xlink:to="sblk_ReceivableRefundAmount_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_ReceivableRefundAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Receivable Refund Amount</label>
    <label xlink:type="resource" xlink:label="sblk_ReceivableRefundAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Receivable refund from the shipyards</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ReclassificationAdjustmentDueToSCRShortfallMember" xlink:label="sblk_ReclassificationAdjustmentDueToSCRShortfallMember"/>
    <label xlink:type="resource" xlink:label="sblk_ReclassificationAdjustmentDueToSCRShortfallMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Reclassification Adjustment Due To SCR Shortfall [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Reclassification adjustment due to SCR shortfall</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_RehabilitationPlanMember" xlink:label="sblk_RehabilitationPlanMember"/>
    <label xlink:type="resource" xlink:label="sblk_RehabilitationPlanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Rehabilitation Plan [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Korea Line Corporation, Rehabilitation plan</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_RelatedPartiesAgreementSaleOfVesselMember" xlink:label="sblk_RelatedPartiesAgreementSaleOfVesselMember"/>
    <label xlink:type="resource" xlink:label="sblk_RelatedPartiesAgreementSaleOfVesselMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Agreements with third parties.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Related Parties Agreement Sale Of Vessel [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_RelatedPartiesAgreementSaleOfVesselMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Agreement with a third party - Sale of Vessel</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_RelatedPartiesCommissionsFees" xlink:label="sblk_RelatedPartiesCommissionsFees"/>
    <label xlink:type="resource" xlink:label="sblk_RelatedPartiesCommissionsFees_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">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>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Related Parties Commissions Fees</label>
    <label xlink:type="resource" xlink:label="sblk_RelatedPartiesCommissionsFees_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Commissions - related parties (Note 3)</label>
    <label xlink:type="resource" xlink:label="sblk_RelatedPartiesCommissionsFees_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Voyage expenses</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_RenascentiaMember" xlink:label="sblk_RenascentiaMember"/>
    <label xlink:type="resource" xlink:label="sblk_RenascentiaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Renascentia.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Renascentia [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_RenascentiaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Renascentia</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_RenewalConsultancyAgreementsMember" xlink:label="sblk_RenewalConsultancyAgreementsMember"/>
    <label xlink:type="resource" xlink:label="sblk_RenewalConsultancyAgreementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Renewal consulting agreements with related parties.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Renewal Consultancy Agreements [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_RenewalConsultancyAgreementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Renewal consultancy agreements</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_RentExpensePerMonth" xlink:label="sblk_RentExpensePerMonth"/>
    <label xlink:type="resource" xlink:label="sblk_RentExpensePerMonth_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of monthly rent.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Rent Expense Per Month</label>
    <label xlink:type="resource" xlink:label="sblk_RentExpensePerMonth_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Rent expense per month</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ResultsOfOperationsForCompaniesAcquiredTableTextBlock" xlink:label="sblk_ResultsOfOperationsForCompaniesAcquiredTableTextBlock"/>
    <label xlink:type="resource" xlink:label="sblk_ResultsOfOperationsForCompaniesAcquiredTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of the results of operations for companies acquired, since the acquisition date.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Results Of Operations For Companies Acquired [TableText Block]</label>
    <label xlink:type="resource" xlink:label="sblk_ResultsOfOperationsForCompaniesAcquiredTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Results Of Operations For Companies Acquired</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_RevenueExpenseRecognitionPolicyTextBlock" xlink:label="sblk_RevenueExpenseRecognitionPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="sblk_RevenueExpenseRecognitionPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Disclosure of accounting policy regarding recognition of revenue and related expenses.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Revenue Expense Recognition [Policy Text Block]</label>
    <label xlink:type="resource" xlink:label="sblk_RevenueExpenseRecognitionPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Accounting for revenue and related expenses</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ReverseStockSplitMember" xlink:label="sblk_ReverseStockSplitMember"/>
    <label xlink:type="resource" xlink:label="sblk_ReverseStockSplitMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Reverse Stock Split [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Reverse stock split</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_RobertaMember" xlink:label="sblk_RobertaMember"/>
    <label xlink:type="resource" xlink:label="sblk_RobertaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Roberta.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Roberta [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_RobertaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Roberta (1)</label>
    <label xlink:type="resource" xlink:label="sblk_RobertaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Roberta</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_RodonMember" xlink:label="sblk_RodonMember"/>
    <label xlink:type="resource" xlink:label="sblk_RodonMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Rodon.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Rodon [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_RodonMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Rodon</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_SWSVesselsMember" xlink:label="sblk_SWSVesselsMember"/>
    <label xlink:type="resource" xlink:label="sblk_SWSVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">SWS Vessels [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">SWS Vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_SaleLeasebackArrangementMember" xlink:label="sblk_SaleLeasebackArrangementMember"/>
    <label xlink:type="resource" xlink:label="sblk_SaleLeasebackArrangementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Sale Leaseback Arrangement [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Sale Leaseback arrangement with CSSC</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_SaleOfFutureClaimsProceeds" xlink:label="sblk_SaleOfFutureClaimsProceeds"/>
    <label xlink:type="resource" xlink:label="sblk_SaleOfFutureClaimsProceeds_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount received from selling a percentage of interest in future proceeds, related to recovery of commercial claims.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Sale Of Future Claims Proceeds</label>
    <label xlink:type="resource" xlink:label="sblk_SaleOfFutureClaimsProceeds_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Sale of future claims proceeds</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_SaleVesselsMember" xlink:label="sblk_SaleVesselsMember"/>
    <label xlink:type="resource" xlink:label="sblk_SaleVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Sale Of Vessels [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Sale of Vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_SandraMember" xlink:label="sblk_SandraMember"/>
    <label xlink:type="resource" xlink:label="sblk_SandraMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Pauline.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Sandra [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_SandraMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Pauline</label>
    <label xlink:type="resource" xlink:label="sblk_SandraMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Star Pauline (ex Sandra)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock" xlink:label="sblk_ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock"/>
    <label xlink:type="resource" xlink:label="sblk_ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of fair value measurements on a nonrecurring basis.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Fair Value Measurements On Non Recurring Basis [Table Text Block]</label>
    <label xlink:type="resource" xlink:label="sblk_ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fair value measurements on Non recurring basis</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_SchedulePurchasePriceAllocation1TableTextBlock" xlink:label="sblk_SchedulePurchasePriceAllocation1TableTextBlock"/>
    <label xlink:type="resource" xlink:label="sblk_SchedulePurchasePriceAllocation1TableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of all of the fair values of the purchase price and assets and liabilities acquired in a business combination.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Purchase Price Allocation1 [Table Text Block]</label>
    <label xlink:type="resource" xlink:label="sblk_SchedulePurchasePriceAllocation1TableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Schedule Of Purchase Price Allocation</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ScrapValuePerLightWeightTon" xlink:label="sblk_ScrapValuePerLightWeightTon"/>
    <label xlink:type="resource" xlink:label="sblk_ScrapValuePerLightWeightTon_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">the scrap value of vessels per light weight ton (lwt).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Scrap Value Per Light Weight Ton</label>
    <label xlink:type="resource" xlink:label="sblk_ScrapValuePerLightWeightTon_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">scrap value per light weight ton</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Second-priorityMortgageMember" xlink:label="sblk_Second-priorityMortgageMember"/>
    <label xlink:type="resource" xlink:label="sblk_Second-priorityMortgageMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Second-priority mortgage [member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Second-priority mortgage</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_SecondInstallmentMember" xlink:label="sblk_SecondInstallmentMember"/>
    <label xlink:type="resource" xlink:label="sblk_SecondInstallmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Second Installment [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Second Installment</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_SecondPriorityMortgageMember" xlink:label="sblk_SecondPriorityMortgageMember"/>
    <label xlink:type="resource" xlink:label="sblk_SecondPriorityMortgageMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Second Priority Mortgage [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Second-priority mortgage</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_SerenityIMember" xlink:label="sblk_SerenityIMember"/>
    <label xlink:type="resource" xlink:label="sblk_SerenityIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Serenity I.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Serenity I [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_SerenityIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Serenity I</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ServicesAgreementAnnualLumpFeeRemuneration" xlink:label="sblk_ServicesAgreementAnnualLumpFeeRemuneration"/>
    <label xlink:type="resource" xlink:label="sblk_ServicesAgreementAnnualLumpFeeRemuneration_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Annual lump fee payable to Interchart, as part of the Services Agreement for brokering and commercial services.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Services Agreement Annual Lump Fee Remuneration</label>
    <label xlink:type="resource" xlink:label="sblk_ServicesAgreementAnnualLumpFeeRemuneration_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Annual lump sum fee</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ServicesAgreementDailyFeeRemunerationPerVessel" xlink:label="sblk_ServicesAgreementDailyFeeRemunerationPerVessel"/>
    <label xlink:type="resource" xlink:label="sblk_ServicesAgreementDailyFeeRemunerationPerVessel_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Daily fee per vessel, as part of the Services Agreement for procurement services.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Services Agreement Daily Fee Remuneration Per Vessel</label>
    <label xlink:type="resource" xlink:label="sblk_ServicesAgreementDailyFeeRemunerationPerVessel_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Daily management fee per vessel</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ServicesAgreementMember" xlink:label="sblk_ServicesAgreementMember"/>
    <label xlink:type="resource" xlink:label="sblk_ServicesAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Services agreement with related parties for chartering, brokering and commercial services.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Services Agreement [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_ServicesAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Services Agreement</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel" xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel"/>
    <label xlink:type="resource" xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Monthly lump fee per vessel, as part of an agreement for commercial, technical, crewing or brokering services.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Services Agreement Monthly Lump Fee Remuneration Per Vessel</label>
    <label xlink:type="resource" xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Monthly lump sum management fee per vessel</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ServicesAgreementMonthlyLumpFeeRemuneration" xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemuneration"/>
    <label xlink:type="resource" xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemuneration_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Monthly lump fee payable to Interchart, as part of the Services Agreement for brokering and commercial services.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Services Agreement Monthly Lump Fee Remuneration</label>
    <label xlink:type="resource" xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemuneration_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Monthly lump sum fee</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_SettlementAgreementWithIshharOverseasFZEMember" xlink:label="sblk_SettlementAgreementWithIshharOverseasFZEMember"/>
    <label xlink:type="resource" xlink:label="sblk_SettlementAgreementWithIshharOverseasFZEMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Settlement Agreement With Ishhar Overseas FZE [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Settlement agreement with Ishhar</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3" xlink:label="sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3"/>
    <label xlink:type="resource" xlink:label="sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Weighted average remaining contractual term for option awards outstanding.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Outstanding at January 1, 2015</label>
    <label xlink:type="resource" xlink:label="sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Outstanding as of June 30, 2015</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate" xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate"/>
    <label xlink:type="resource" xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">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>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share Based Compensation Arrangement By ShareBased Payment Award Award Vesting Date</label>
    <label xlink:type="resource" xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vesting date</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue" xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue"/>
    <label xlink:type="resource" xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">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>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Grant date fair value</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod" xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod"/>
    <label xlink:type="resource" xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The number of equity-based payment instruments that has vested during the reporting period.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Vested In Period</label>
    <label xlink:type="resource" xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Number of shares vested</label>
    <label xlink:type="resource" xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Number of shares vested during the period</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVestedOptionsExercisedNumberOfShares" xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVestedOptionsExercisedNumberOfShares"/>
    <label xlink:type="resource" xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVestedOptionsExercisedNumberOfShares_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Number of non-vested options exercised.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Exercised</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ShareBasedCompensationAwardTrancheOne2017Member" xlink:label="sblk_ShareBasedCompensationAwardTrancheOne2017Member"/>
    <label xlink:type="resource" xlink:label="sblk_ShareBasedCompensationAwardTrancheOne2017Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share Based Compensation Award Tranche One 2017 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_ShareBasedCompensationAwardTrancheOne2017Member" xlink:to="sblk_ShareBasedCompensationAwardTrancheOne2017Member_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_ShareBasedCompensationAwardTrancheOne2017Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vest on March 31, 2017</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsExercisedWeightedAverageGrantDateFairValue" xlink:label="sblk_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsExercisedWeightedAverageGrantDateFairValue"/>
    <label xlink:type="resource" xlink:label="sblk_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsExercisedWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Weighted average grant-date fair value of non-vested options exercised.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Exercised</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ShareholderAgreementDirectorsNominationRight" xlink:label="sblk_ShareholderAgreementDirectorsNominationRight"/>
    <label xlink:type="resource" xlink:label="sblk_ShareholderAgreementDirectorsNominationRight_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">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>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Shareholder Agreement Directors Nomination Right</label>
    <label xlink:type="resource" xlink:label="sblk_ShareholderAgreementDirectorsNominationRight_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Oaktree Shareholders Agreement Drirectors Nomination right</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ShipProcurementServicesS.A.Member" xlink:label="sblk_ShipProcurementServicesS.A.Member"/>
    <label xlink:type="resource" xlink:label="sblk_ShipProcurementServicesS.A.Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The company Ship Procurement Services S.A..</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Ship Procurement Services S.A. [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_ShipProcurementServicesS.A.Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Ship Procurement Services S.A. ("SPS")</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ShipbuildingContractsTerminationMember" xlink:label="sblk_ShipbuildingContractsTerminationMember"/>
    <label xlink:type="resource" xlink:label="sblk_ShipbuildingContractsTerminationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Shipbuilding Contracts Termination [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Shipbuilding contracts termination</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_SignificantCharterersMember" xlink:label="sblk_SignificantCharterersMember"/>
    <label xlink:type="resource" xlink:label="sblk_SignificantCharterersMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Significant charterers [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Significant charterers</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_SinosureFacilityMember" xlink:label="sblk_SinosureFacilityMember"/>
    <label xlink:type="resource" xlink:label="sblk_SinosureFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The credit facility Sinosure.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Sinosure Facility [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_SinosureFacilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Sinosure Facility</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_SpanishPortAuthoritiesFinesMember" xlink:label="sblk_SpanishPortAuthoritiesFinesMember"/>
    <label xlink:type="resource" xlink:label="sblk_SpanishPortAuthoritiesFinesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Spanish Port Authorities Fines [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Spanish port authorities environmental fines</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarAlineMember" xlink:label="sblk_StarAlineMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarAlineMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Aline.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Aline [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarAlineMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Aline (Note 15 (c))</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarAlphaMember" xlink:label="sblk_StarAlphaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarAlphaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Aplha.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Alpha [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarAlphaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Alpha (ex A Duckling)</label>
    <label xlink:type="resource" xlink:label="sblk_StarAlphaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Star Alpha (ex A Duckling) - Disposed</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarAngelinaMember" xlink:label="sblk_StarAngelinaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarAngelinaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Angelina.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Angelina [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarAngelinaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Angelina</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarAngieMember" xlink:label="sblk_StarAngieMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarAngieMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Angie.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Angie [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarAngieMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Angie</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarAntaresMember" xlink:label="sblk_StarAntaresMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarAntaresMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Antares [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Antares</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarAquariusMember" xlink:label="sblk_StarAquariusMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarAquariusMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Aquarius ( ex-HN 5040).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Aquarius [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarAquariusMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Aquarius ( ex-HN 5040)</label>
    <label xlink:type="resource" xlink:label="sblk_StarAquariusMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Star Aquarius</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarAriesMember" xlink:label="sblk_StarAriesMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarAriesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Aries [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Aries</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarAuroraMember" xlink:label="sblk_StarAuroraMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarAuroraMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Aurora.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Aurora [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarAuroraMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Aurora</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarBetaMember" xlink:label="sblk_StarBetaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarBetaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Beta.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Beta [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarBetaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Beta (ex B Duckling)</label>
    <label xlink:type="resource" xlink:label="sblk_StarBetaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Star Beta (ex B Duckling) - Disposed</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarBigAndStarMegaMember" xlink:label="sblk_StarBigAndStarMegaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarBigAndStarMegaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Big And Star Mega [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Big and Star Mega</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarBigMember" xlink:label="sblk_StarBigMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarBigMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Big.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Big [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarBigMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Big</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarBigStarMarthaStarPaulineStarDespoinaMember" xlink:label="sblk_StarBigStarMarthaStarPaulineStarDespoinaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarBigStarMarthaStarPaulineStarDespoinaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Big And Star Martha And Star Pauline And Star Despoina [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_StarBigStarMarthaStarPaulineStarDespoinaMember" xlink:to="sblk_StarBigStarMarthaStarPaulineStarDespoinaMember_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_StarBigStarMarthaStarPaulineStarDespoinaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Big, Star Martha (ex-Christine), Star Pauline (ex-Sandra) and Star Despoina (ex-Lowlands Beilun)</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarBorealisIIIMember" xlink:label="sblk_StarBorealisIIIMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarBorealisIIIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Borealis III [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Borealis</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarBorealisIIMember" xlink:label="sblk_StarBorealisIIMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarBorealisIIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Borealis II [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Borealis</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarBorealisMember" xlink:label="sblk_StarBorealisMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarBorealisMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Borealis.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Borealis [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarBorealisMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Borealis</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarBulkCarriersCorporationAndBocimarInternationalNVAndGoldenOceanGroupLimitedAndCTransportHoldingLtdMember" xlink:label="sblk_StarBulkCarriersCorporationAndBocimarInternationalNVAndGoldenOceanGroupLimitedAndCTransportHoldingLtdMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarBulkCarriersCorporationAndBocimarInternationalNVAndGoldenOceanGroupLimitedAndCTransportHoldingLtdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Bulk Carriers Corporation And Bocimar International NV And Golden Ocean Group Limited And C Transport Holding Ltd [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Bulk Carriers Corp., Bocimar International NV, Golden Ocean Group Limited and C Transport Holding Ltd</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarChallenger1Member" xlink:label="sblk_StarChallenger1Member"/>
    <label xlink:type="resource" xlink:label="sblk_StarChallenger1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Challenger 1 [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Challenger</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarChallengerMember" xlink:label="sblk_StarChallengerMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarChallengerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Challenger.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Challenger [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarChallengerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Challenger</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarChristiannaMember" xlink:label="sblk_StarChristiannaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarChristiannaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Christianna.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Christianna [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarChristiannaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Christianna</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarClaudiaMember" xlink:label="sblk_StarClaudiaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarClaudiaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Claudia.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Claudia [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarClaudiaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Claudia</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarCosmoMember" xlink:label="sblk_StarCosmoMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarCosmoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Cosmo.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Cosmo [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarCosmoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Cosmo</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarCosmoReducedAmountMember" xlink:label="sblk_StarCosmoReducedAmountMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarCosmoReducedAmountMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Cosmo Reduced Amount [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Cosmo reduced amount</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarDanaiMember" xlink:label="sblk_StarDanaiMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarDanaiMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Danai.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Danai [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarDanaiMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Danai</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarDeltaMember" xlink:label="sblk_StarDeltaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarDeltaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Delta.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Delta [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarDeltaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Delta (ex F Duckling)</label>
    <label xlink:type="resource" xlink:label="sblk_StarDeltaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Star Delta</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarEleonoraMember" xlink:label="sblk_StarEleonoraMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarEleonoraMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Eleonora.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Eleonora [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarEleonoraMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Eleonora</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarEmilyMember" xlink:label="sblk_StarEmilyMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarEmilyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Emily.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Emily [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarEmilyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Emily</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarEpsilonAndStarKappa1Member" xlink:label="sblk_StarEpsilonAndStarKappa1Member"/>
    <label xlink:type="resource" xlink:label="sblk_StarEpsilonAndStarKappa1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Epsilon And Star Kappa 1 [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Epsilon And Star Kappa</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarEpsilonMember" xlink:label="sblk_StarEpsilonMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarEpsilonMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Epsilon.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Epsilon [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarEpsilonMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Epsilon (ex G Duckling)</label>
    <label xlink:type="resource" xlink:label="sblk_StarEpsilonMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Star Epsilon</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarFighter1Member" xlink:label="sblk_StarFighter1Member"/>
    <label xlink:type="resource" xlink:label="sblk_StarFighter1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Fighter 1 [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Fighter</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarFighterMember" xlink:label="sblk_StarFighterMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarFighterMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Fighter.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Fighter [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarFighterMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Fighter</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarGammaAndStarCosmoMember" xlink:label="sblk_StarGammaAndStarCosmoMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarGammaAndStarCosmoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Gamma And Star Cosmo [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Gamma and Star Cosmo</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarGammaMember" xlink:label="sblk_StarGammaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarGammaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Gamma.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Gamma [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarGammaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Gamma (ex C Duckling)</label>
    <label xlink:type="resource" xlink:label="sblk_StarGammaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Star Gamma</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarGeorgiaMember" xlink:label="sblk_StarGeorgiaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarGeorgiaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Georgia.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Georgia [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarGeorgiaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Georgia</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarGwynethMember" xlink:label="sblk_StarGwynethMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarGwynethMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Gwyneth.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Gwyneth [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarGwynethMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Gwyneth</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarHelenaMember" xlink:label="sblk_StarHelenaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarHelenaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Helena.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Helena [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarHelenaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Helena</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarIrisMember" xlink:label="sblk_StarIrisMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarIrisMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Iris.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Iris [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarIrisMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Iris</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarJenniferMember" xlink:label="sblk_StarJenniferMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarJenniferMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Jennifer.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Jennifer [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarJenniferMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Jennifer</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember" xlink:label="sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessels Star Julia, Star Tatianna, Star Monika and Star Kim.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Julia And Star Tatianna And Star Monika And Star Kim [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Julia, Star Tatianna, Star Monika and Star Kim</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarJuliaMember" xlink:label="sblk_StarJuliaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarJuliaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Julia.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Julia [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarJuliaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Julia</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarKamilaMember" xlink:label="sblk_StarKamilaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarKamilaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Kamila.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Kamila [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarKamilaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Kamila</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarKappaMember" xlink:label="sblk_StarKappaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarKappaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Kappa.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Kappa [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarKappaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Kappa (ex E Duckling)</label>
    <label xlink:type="resource" xlink:label="sblk_StarKappaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Star Kappa</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarKimMember" xlink:label="sblk_StarKimMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarKimMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Kim.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Kim [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarKimMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Kim</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarLauraMember" xlink:label="sblk_StarLauraMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarLauraMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Laura.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Laura [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarLauraMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Laura</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarLibraMember" xlink:label="sblk_StarLibraMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarLibraMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Libra [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_StarLibraMember" xlink:to="sblk_StarLibraMember_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_StarLibraMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Libra</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarLutasMember" xlink:label="sblk_StarLutasMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarLutasMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Lutas [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Lutas</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarMariaMember" xlink:label="sblk_StarMariaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarMariaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Maria.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Maria [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarMariaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Maria</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarMariellaMember" xlink:label="sblk_StarMariellaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarMariellaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Mariella.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Mariella [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarMariellaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Mariella</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarMarisaMember" xlink:label="sblk_StarMarisaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarMarisaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Marisa [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Marisa (1)</label>
    <label xlink:type="resource" xlink:label="sblk_StarMarisaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Star Marisa</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarMarkelaMember" xlink:label="sblk_StarMarkelaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarMarkelaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Markella.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Markela [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarMarkelaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Markella</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarMegaMember" xlink:label="sblk_StarMegaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarMegaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Mega.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Mega [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarMegaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Mega</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarMicheleMember" xlink:label="sblk_StarMicheleMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarMicheleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Michele.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Michele [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarMicheleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Michele</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarMicheleTwoNewbuildingContractsMember" xlink:label="sblk_StarMicheleTwoNewbuildingContractsMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarMicheleTwoNewbuildingContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Michele And Two Newbuilding Contracts [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_StarMicheleTwoNewbuildingContractsMember" xlink:to="sblk_StarMicheleTwoNewbuildingContractsMember_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_StarMicheleTwoNewbuildingContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Michele and two newbuilding contracts</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarMoiraMember" xlink:label="sblk_StarMoiraMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarMoiraMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Moira.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Moira [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarMoiraMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Moira</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarMonikaMember" xlink:label="sblk_StarMonikaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarMonikaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Monika.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Monika [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarMonikaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Monika</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarMorishaMember" xlink:label="sblk_StarMorishaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarMorishaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Morisha.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Morisha [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarMorishaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Monisha (Note 15 (c))</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarNasiaMember" xlink:label="sblk_StarNasiaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarNasiaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Nasia.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Nasia [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarNasiaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Nasia</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarNatalieMember" xlink:label="sblk_StarNatalieMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarNatalieMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Natalie.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Natalie [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarNatalieMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Natalie</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarNicoleMember" xlink:label="sblk_StarNicoleMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarNicoleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Nicole.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Nicole [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarNicoleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Nicole</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember" xlink:label="sblk_StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessels Star Nina, Star Nicole, Star Claudia, Star Monisha, Rodon and Star Jennifer.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Nina, Star Nicole, Star Claudia, Star Monisha, Rodon and Star Jennifer</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarNinaMember" xlink:label="sblk_StarNinaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarNinaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Nina.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Nina [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarNinaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Nina</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarOmicronMember" xlink:label="sblk_StarOmicronMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarOmicronMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Omicron.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Omicron [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarOmicronMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Omicron</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarPiscesMember" xlink:label="sblk_StarPiscesMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarPiscesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Pisces (ex-HN 5043).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Pisces [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarPiscesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Pisces (ex-HN 5043)</label>
    <label xlink:type="resource" xlink:label="sblk_StarPiscesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Star Pisces</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarPolarisMember" xlink:label="sblk_StarPolarisMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarPolarisMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Polaris.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Polaris [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarPolarisMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Polaris</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarPoseidonMember" xlink:label="sblk_StarPoseidonMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarPoseidonMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Poseidon [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Poseidon</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarReneeMember" xlink:label="sblk_StarReneeMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarReneeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Renee.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Renee [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarReneeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Renee</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarSigma2Member" xlink:label="sblk_StarSigma2Member"/>
    <label xlink:type="resource" xlink:label="sblk_StarSigma2Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Sigma2 [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Sigma</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarSigmaAmountReceivedForFuelsMember" xlink:label="sblk_StarSigmaAmountReceivedForFuelsMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarSigmaAmountReceivedForFuelsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Sigma Amount Received For Fuels [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Sigma - Amount received for fuels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarSigmaAmountReceivedInCashMember" xlink:label="sblk_StarSigmaAmountReceivedInCashMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarSigmaAmountReceivedInCashMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of cash received as compensation for the early redelivery of vessel Star Sigma.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Sigma Amount Received In Cash [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarSigmaAmountReceivedInCashMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Sigma - Amount received in cash</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarSigmaMember" xlink:label="sblk_StarSigmaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarSigmaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Sigma.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Sigma [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarSigmaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Sigma</label>
    <label xlink:type="resource" xlink:label="sblk_StarSigmaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Star Sigma - Disposed</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarSirius2Member" xlink:label="sblk_StarSirius2Member"/>
    <label xlink:type="resource" xlink:label="sblk_StarSirius2Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Sirius.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Sirius2 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarSirius2Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Sirius</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarSiriusStarVega2Member" xlink:label="sblk_StarSiriusStarVega2Member"/>
    <label xlink:type="resource" xlink:label="sblk_StarSiriusStarVega2Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessels Star Sirius and Star Vega.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">StarSiriusStarVega2[Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarSiriusStarVega2Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Sirius and Star Vega</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarSiriusStarVegaMember" xlink:label="sblk_StarSiriusStarVegaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarSiriusStarVegaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Sirius Star Vega [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Sirius and Star Vega</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarSophiaMember" xlink:label="sblk_StarSophiaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarSophiaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Sophia.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Sophia [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarSophiaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Sophia</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarTatiannaMember" xlink:label="sblk_StarTatiannaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarTatiannaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Tatianna.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Tatianna [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarTatiannaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Tatianna</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarThetaMember" xlink:label="sblk_StarThetaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarThetaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Theta.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Theta [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarThetaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Theta (ex J Duckling)</label>
    <label xlink:type="resource" xlink:label="sblk_StarThetaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Star Theta</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarVanessaMember" xlink:label="sblk_StarVanessaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarVanessaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Vanessa.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Vanessa [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarVanessaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Vanessa</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarVega2Member" xlink:label="sblk_StarVega2Member"/>
    <label xlink:type="resource" xlink:label="sblk_StarVega2Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Vega.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Vega2 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarVega2Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Vega</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarYpsilonMember" xlink:label="sblk_StarYpsilonMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarYpsilonMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Ypsilon.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Ypsilon [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarYpsilonMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Ypsilon</label>
    <label xlink:type="resource" xlink:label="sblk_StarYpsilonMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Star Ypsilon - Disposed</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarZetaMember" xlink:label="sblk_StarZetaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarZetaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Star Zeta.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Star Zeta [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StarZetaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Star Zeta (ex I Duckling)</label>
    <label xlink:type="resource" xlink:label="sblk_StarZetaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Star Zeta</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarbulkCarriersCorpMember" xlink:label="sblk_StarbulkCarriersCorpMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarbulkCarriersCorpMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Starbulk Carriers Corp [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Starbulk Carriers Corp.</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StarbulkSaMember" xlink:label="sblk_StarbulkSaMember"/>
    <label xlink:type="resource" xlink:label="sblk_StarbulkSaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Starbulk Sa [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Starbulk S.A.</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StockIssuedDuringPeriodSharesNewIssuesExcelTransaction" xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesExcelTransaction"/>
    <label xlink:type="resource" xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesExcelTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Number of new stock issued during the period concerning the Excel  transaction.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Issued During Period Shares New Issues Excel Transaction</label>
    <label xlink:type="resource" xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesExcelTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Issuance of common stock Excel Transactions (Note 1), shares</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StockIssuedDuringPeriodSharesNewIssuesHeronTransaction" xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesHeronTransaction"/>
    <label xlink:type="resource" xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesHeronTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Number of new stock issued during the period concerning the Heron transaction.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Issued During Period Shares New Issues Heron Transaction</label>
    <label xlink:type="resource" xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesHeronTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Issuance of common stock Heron Transaction in escrow account (Note 1), shares</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StockIssuedDuringPeriodSharesNewIssuesInterchartTransaction" xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesInterchartTransaction"/>
    <label xlink:type="resource" xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesInterchartTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Number of new stock issued during the period concerning the acquisition of 33% of Interchart.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Issued During Period Shares New Issues Interchart Transaction</label>
    <label xlink:type="resource" xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesInterchartTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Issuance of common stock - Acquisition of 33% of Interchart (Note 9), shares</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StockIssuedDuringPeriodSharesNewIssuesMergerAndPappasTransaction" xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesMergerAndPappasTransaction"/>
    <label xlink:type="resource" xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesMergerAndPappasTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Number of new stock issued during the period concerning the Merger and the Pappas transaction.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Issued During Period Shares New Issues Merger And Pappas Transaction</label>
    <label xlink:type="resource" xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesMergerAndPappasTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Issuance of common stock Merger and Pappas Transaction (Note 1), shares</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StockIssuedDuringPeriodValueNewIssuesExcelTransaction" xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesExcelTransaction"/>
    <label xlink:type="resource" xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesExcelTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Equity impact of the value of new stock issued during the period, concerning the Excel transaction.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Issued During Period Value New Issues Excel Transaction</label>
    <label xlink:type="resource" xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesExcelTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Issuance of common stock Excel Transactions (Note 1), value</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StockIssuedDuringPeriodValueNewIssuesHeronTransaction" xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesHeronTransaction"/>
    <label xlink:type="resource" xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesHeronTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Equity impact of the value of new stock issued during the period, concerning the Heron transaction.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Issued During Period Value New Issues Heron Transaction</label>
    <label xlink:type="resource" xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesHeronTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Issuance of common stock Heron Transaction in escrow account (Note 1), value</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction" xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction"/>
    <label xlink:type="resource" xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Equity impact of the value of new stock issued during the period concerning the acquisition of 33% of Interchart.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Issued During Period Value New Issues Interchart Transaction</label>
    <label xlink:type="resource" xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Issuance of common stock - Acquisition of 33% of Interchart (Note 9), value</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StockIssuedDuringPeriodValueNewIssuesMergerAndPappasTransaction" xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesMergerAndPappasTransaction"/>
    <label xlink:type="resource" xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesMergerAndPappasTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Equity impact of the value of new stock issued during the period, concerning the Merger and the Pappas transaction.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Issued During Period Value New Issues Merger And Pappas Transaction</label>
    <label xlink:type="resource" xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesMergerAndPappasTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Issuance of common stock Merger and Pappas Transaction (Note 1), value</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StockRepurchaseProgramMaximumSharePrice" xlink:label="sblk_StockRepurchaseProgramMaximumSharePrice"/>
    <label xlink:type="resource" xlink:label="sblk_StockRepurchaseProgramMaximumSharePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The maximum purchase price per share which has been authorized under the share repurchase plan.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Repurchase Program Maximum Share Price</label>
    <label xlink:type="resource" xlink:label="sblk_StockRepurchaseProgramMaximumSharePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Share repurchase program - maximum share price</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StockholdersEquityReverseStockSplitRatio" xlink:label="sblk_StockholdersEquityReverseStockSplitRatio"/>
    <label xlink:type="resource" xlink:label="sblk_StockholdersEquityReverseStockSplitRatio_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stockholders Equity Reverse Stock Split Ratio</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Reverse stock split ratio</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_StrangeAttractorIMember" xlink:label="sblk_StrangeAttractorIMember"/>
    <label xlink:type="resource" xlink:label="sblk_StrangeAttractorIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Strange Attractor.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Strange Attractor I [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_StrangeAttractorIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Strange Attractor</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_SupervisionCosts" xlink:label="sblk_SupervisionCosts"/>
    <label xlink:type="resource" xlink:label="sblk_SupervisionCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">This element represents supervision costs for newbuilding vessels paid on behalf of a related party.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Supervision Costs</label>
    <label xlink:type="resource" xlink:label="sblk_SupervisionCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Supervision costs</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_TerminationAgreementMember" xlink:label="sblk_TerminationAgreementMember"/>
    <label xlink:type="resource" xlink:label="sblk_TerminationAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Agreement to terminate the prior consultancy agreement.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Termination Agreement [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_TerminationAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Agreement to terminate the consultancy agreement</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_ThirdInstallmentMember" xlink:label="sblk_ThirdInstallmentMember"/>
    <label xlink:type="resource" xlink:label="sblk_ThirdInstallmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Third Installment [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Third Installment</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_TmtCoMember" xlink:label="sblk_TmtCoMember"/>
    <label xlink:type="resource" xlink:label="sblk_TmtCoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tmt Co [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">TMT Co</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_TonnageTax" xlink:label="sblk_TonnageTax"/>
    <label xlink:type="resource" xlink:label="sblk_TonnageTax_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The tonnage taxes for the period.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tonnage Tax</label>
    <label xlink:type="resource" xlink:label="sblk_TonnageTax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Tonnage taxes</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_TotalContractualPurchaseObligation" xlink:label="sblk_TotalContractualPurchaseObligation"/>
    <label xlink:type="resource" xlink:label="sblk_TotalContractualPurchaseObligation_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">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>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total Of Contractual Purchase Obligation</label>
    <label xlink:type="resource" xlink:label="sblk_TotalContractualPurchaseObligation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Total aggregate remaining contracted price plus agreed additional amounts</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_TotalMember" xlink:label="sblk_TotalMember"/>
    <label xlink:type="resource" xlink:label="sblk_TotalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Total</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Tranche1FirstFourInstallmentsMember" xlink:label="sblk_Tranche1FirstFourInstallmentsMember"/>
    <label xlink:type="resource" xlink:label="sblk_Tranche1FirstFourInstallmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tranche A First Four Installments [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Tranche A - First four installments</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Tranche1InstallmentFiveToEighteenMember" xlink:label="sblk_Tranche1InstallmentFiveToEighteenMember"/>
    <label xlink:type="resource" xlink:label="sblk_Tranche1InstallmentFiveToEighteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tranche 1 Installment Five To Eighteen [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Tranche A - Installment five to seventeen</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Tranche1InstallmentsFiveToSeventeenMember" xlink:label="sblk_Tranche1InstallmentsFiveToSeventeenMember"/>
    <label xlink:type="resource" xlink:label="sblk_Tranche1InstallmentsFiveToSeventeenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tranche 1 Installments Five To Seventeen [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Tranche A - 5th Installment to 17th</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Tranche1LastElevenInstallmentsMember" xlink:label="sblk_Tranche1LastElevenInstallmentsMember"/>
    <label xlink:type="resource" xlink:label="sblk_Tranche1LastElevenInstallmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tranche 1 Last Eleven Installments [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Tranche A - Last eleven installments</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Tranche1Member" xlink:label="sblk_Tranche1Member"/>
    <label xlink:type="resource" xlink:label="sblk_Tranche1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The first tranche.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tranche 1 [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_Tranche1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Tranche A</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Tranche2FirstFourInstallmentMember" xlink:label="sblk_Tranche2FirstFourInstallmentMember"/>
    <label xlink:type="resource" xlink:label="sblk_Tranche2FirstFourInstallmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tranche 2 First Four Installment [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Tranche B - First four installments</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Tranche2LastTwentyFourInstallmentsMember" xlink:label="sblk_Tranche2LastTwentyFourInstallmentsMember"/>
    <label xlink:type="resource" xlink:label="sblk_Tranche2LastTwentyFourInstallmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tranche 2 Last Twenty Four Installments [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Tranche B - Last twenty four installments</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Tranche2Member" xlink:label="sblk_Tranche2Member"/>
    <label xlink:type="resource" xlink:label="sblk_Tranche2Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tranche 2 [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Tranche B</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_Tranche3Member" xlink:label="sblk_Tranche3Member"/>
    <label xlink:type="resource" xlink:label="sblk_Tranche3Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tranche 3 [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Tranche C</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_TrancheDMember" xlink:label="sblk_TrancheDMember"/>
    <label xlink:type="resource" xlink:label="sblk_TrancheDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tranche D [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Tranche D</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_TsuEbisuMember" xlink:label="sblk_TsuEbisuMember"/>
    <label xlink:type="resource" xlink:label="sblk_TsuEbisuMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Tsu Ebisu.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tsu Ebisu [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_TsuEbisuMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Tsu Ebisu</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_TwentyFourNewbuildingVesselsMember" xlink:label="sblk_TwentyFourNewbuildingVesselsMember"/>
    <label xlink:type="resource" xlink:label="sblk_TwentyFourNewbuildingVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Twenty Four Newbuilding Vessels [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">24 new building vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_TwoCompanyDirectorsMember" xlink:label="sblk_TwoCompanyDirectorsMember"/>
    <label xlink:type="resource" xlink:label="sblk_TwoCompanyDirectorsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Two Company Directors [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Directors Mr Softeland and Mr Erhardt</label>
    <label xlink:type="resource" xlink:label="sblk_TwoCompanyDirectorsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Two Company Directors</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_TwoDirectorsMember" xlink:label="sblk_TwoDirectorsMember"/>
    <label xlink:type="resource" xlink:label="sblk_TwoDirectorsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Two Directors [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Two directors</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_TwoNewbuildingContractsMember" xlink:label="sblk_TwoNewbuildingContractsMember"/>
    <label xlink:type="resource" xlink:label="sblk_TwoNewbuildingContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Two Newbuilding Contracts [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="sblk_TwoNewbuildingContractsMember" xlink:to="sblk_TwoNewbuildingContractsMember_lbl"/>
    <label xlink:type="resource" xlink:label="sblk_TwoNewbuildingContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Two newbuilding contracts</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_UltramaxVesselsMember" xlink:label="sblk_UltramaxVesselsMember"/>
    <label xlink:type="resource" xlink:label="sblk_UltramaxVesselsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Ultramax Vessels [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Ultramax vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_UnrealizedMember" xlink:label="sblk_UnrealizedMember"/>
    <label xlink:type="resource" xlink:label="sblk_UnrealizedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unrealized [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Unrealized</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_UpgradingExpense" xlink:label="sblk_UpgradingExpense"/>
    <label xlink:type="resource" xlink:label="sblk_UpgradingExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The upgrading expenses incurred during the period.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Upgrading Expense</label>
    <label xlink:type="resource" xlink:label="sblk_UpgradingExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Upgrading expenses</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselAcquisitionCommissionPercentage" xlink:label="sblk_VesselAcquisitionCommissionPercentage"/>
    <label xlink:type="resource" xlink:label="sblk_VesselAcquisitionCommissionPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Commission paid to an entity related to negotiations made, with a shipyard, regarding a vessel acquisition.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessel Acquisition Commission Percentage</label>
    <label xlink:type="resource" xlink:label="sblk_VesselAcquisitionCommissionPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessel acquisition commission percentage</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselAcquisitionContractPrice" xlink:label="sblk_VesselAcquisitionContractPrice"/>
    <label xlink:type="resource" xlink:label="sblk_VesselAcquisitionContractPrice_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel shipbuilding or purchase price in aggregate, as stated in the contract.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessel Acquisition Contract Price</label>
    <label xlink:type="resource" xlink:label="sblk_VesselAcquisitionContractPrice_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Aggregate acquisition price</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselCapacity" xlink:label="sblk_VesselCapacity"/>
    <label xlink:type="resource" xlink:label="sblk_VesselCapacity_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel's capacity in deadweight tonnage.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessel Capacity</label>
    <label xlink:type="resource" xlink:label="sblk_VesselCapacity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">DWT</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselGross" xlink:label="sblk_VesselGross"/>
    <label xlink:type="resource" xlink:label="sblk_VesselGross_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Gross amount of vessel acquired.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessel Gross</label>
    <label xlink:type="resource" xlink:label="sblk_VesselGross_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselNet" xlink:label="sblk_VesselNet"/>
    <label xlink:type="resource" xlink:label="sblk_VesselNet_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The carrying amount of the vessel.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessel Net</label>
    <label xlink:type="resource" xlink:label="sblk_VesselNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Carrying amount of vessel</label>
    <label xlink:type="resource" xlink:label="sblk_VesselNet_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Vessel value</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselOperatingExpensesTableTextBlock" xlink:label="sblk_VesselOperatingExpensesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="sblk_VesselOperatingExpensesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure for Vessel Operating expenses (crew wages and related costs, insurances, repairs, spares and maintenance, consumable stores, tonnage taxes, miscellaneous).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessel Operating Expenses [Table Text Block]</label>
    <label xlink:type="resource" xlink:label="sblk_VesselOperatingExpensesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessel operating expenses</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselRedeliveryDate" xlink:label="sblk_VesselRedeliveryDate"/>
    <label xlink:type="resource" xlink:label="sblk_VesselRedeliveryDate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The date the vessel was redelivered from the charterer.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessel Redelivery Date</label>
    <label xlink:type="resource" xlink:label="sblk_VesselRedeliveryDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Redelivery date</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselType" xlink:label="sblk_VesselType"/>
    <label xlink:type="resource" xlink:label="sblk_VesselType_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The type of vessel.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessel Type</label>
    <label xlink:type="resource" xlink:label="sblk_VesselType_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Type</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselYearBuilt" xlink:label="sblk_VesselYearBuilt"/>
    <label xlink:type="resource" xlink:label="sblk_VesselYearBuilt_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The year that the vessel was built.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessel Year Built</label>
    <label xlink:type="resource" xlink:label="sblk_VesselYearBuilt_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Year Built</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselsAcquired" xlink:label="sblk_VesselsAcquired"/>
    <label xlink:type="resource" xlink:label="sblk_VesselsAcquired_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Number of vessels acquired.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels Acquired</label>
    <label xlink:type="resource" xlink:label="sblk_VesselsAcquired_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Number of vessels acquired</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselsAndAdvancesForVesselsUnderConstructionNet" xlink:label="sblk_VesselsAndAdvancesForVesselsUnderConstructionNet"/>
    <label xlink:type="resource" xlink:label="sblk_VesselsAndAdvancesForVesselsUnderConstructionNet_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Agreegate amount after accumulated depreciation of operating vessels and advances for newbuilding vessels under construction.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels And Advances For Vessels Under Construction Net</label>
    <label xlink:type="resource" xlink:label="sblk_VesselsAndAdvancesForVesselsUnderConstructionNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Operating and newbuilding vessels, net</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselsAndOtherFixedAssetsNet" xlink:label="sblk_VesselsAndOtherFixedAssetsNet"/>
    <label xlink:type="resource" xlink:label="sblk_VesselsAndOtherFixedAssetsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">This element represents vessels and other fixed assets, net of accumulated depreciation.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xml:lang="en-US">Vessels</label>
    <label xlink:type="resource" xlink:label="sblk_VesselsAndOtherFixedAssetsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels And Other Fixed Assets Net</label>
    <label xlink:type="resource" xlink:label="sblk_VesselsAndOtherFixedAssetsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessels and other fixed assets, net (Note 5)</label>
    <label xlink:type="resource" xlink:label="sblk_VesselsAndOtherFixedAssetsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Vessels and other fixed assets, net</label>
    <label xlink:type="resource" xlink:label="sblk_VesselsAndOtherFixedAssetsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Vessels and other fixed assets, net</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselsDelivered" xlink:label="sblk_VesselsDelivered"/>
    <label xlink:type="resource" xlink:label="sblk_VesselsDelivered_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Number of vessels delivered.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels Delivered</label>
    <label xlink:type="resource" xlink:label="sblk_VesselsDelivered_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Number of vessels delivered</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselsHeldForSalePolicyTextBlock" xlink:label="sblk_VesselsHeldForSalePolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="sblk_VesselsHeldForSalePolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Disclosure of accounting policy for vessels held for sale.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels Held For Sale Policy [Text Block]</label>
    <label xlink:type="resource" xlink:label="sblk_VesselsHeldForSalePolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessels held for sale</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselsInOperationIIMember" xlink:label="sblk_VesselsInOperationIIMember"/>
    <label xlink:type="resource" xlink:label="sblk_VesselsInOperationIIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels In Operation II [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessels in operation</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselsInOperationsMember" xlink:label="sblk_VesselsInOperationsMember"/>
    <label xlink:type="resource" xlink:label="sblk_VesselsInOperationsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Vessels in operation.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels In Operations [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_VesselsInOperationsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessels in operation</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselsNetMember" xlink:label="sblk_VesselsNetMember"/>
    <label xlink:type="resource" xlink:label="sblk_VesselsNetMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels Net [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessels, net</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselsNet" xlink:label="sblk_VesselsNet"/>
    <label xlink:type="resource" xlink:label="sblk_VesselsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Vessel cost net of accumulated depreciation.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels Net</label>
    <label xlink:type="resource" xlink:label="sblk_VesselsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessels' net book value</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselsSalesAgreementsMember" xlink:label="sblk_VesselsSalesAgreementsMember"/>
    <label xlink:type="resource" xlink:label="sblk_VesselsSalesAgreementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels Sales Agreements [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessels sales agreements</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselsSalesMember" xlink:label="sblk_VesselsSalesMember"/>
    <label xlink:type="resource" xlink:label="sblk_VesselsSalesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels Sales [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Sale of Vessels</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselsSalvageValuePerLightWeightTon" xlink:label="sblk_VesselsSalvageValuePerLightWeightTon"/>
    <label xlink:type="resource" xlink:label="sblk_VesselsSalvageValuePerLightWeightTon_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The estimated vessels' salvage value per lightweight ton.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels Salvage Value Per Light Weight Ton</label>
    <label xlink:type="resource" xlink:label="sblk_VesselsSalvageValuePerLightWeightTon_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessel salvage value per LWT</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselsSold" xlink:label="sblk_VesselsSold"/>
    <label xlink:type="resource" xlink:label="sblk_VesselsSold_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Number of vessels sold.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels Sold</label>
    <label xlink:type="resource" xlink:label="sblk_VesselsSold_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Number of vessels sold</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VesselsUnderConstructionMember" xlink:label="sblk_VesselsUnderConstructionMember"/>
    <label xlink:type="resource" xlink:label="sblk_VesselsUnderConstructionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Vessels under construction.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels Under Construction [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_VesselsUnderConstructionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessels under construction</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VoyageExpensesTableTextBlock" xlink:label="sblk_VoyageExpensesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="sblk_VoyageExpensesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure for Voyage expenses (Port charges, bunkers, commissions charged by third parties, commissions charged by related parties).</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Voyage Expenses Table [Text Block]</label>
    <label xlink:type="resource" xlink:label="sblk_VoyageExpensesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Voyage expenses</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VoyageExpenses" xlink:label="sblk_VoyageExpenses"/>
    <label xlink:type="resource" xlink:label="sblk_VoyageExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Costs relating to the voyages performed by the vessels and may include port, canal, bunker expenses, commissions and other.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Voyage expenses</label>
    <label xlink:type="resource" xlink:label="sblk_VoyageExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Voyage expenses</label>
    <label xlink:type="resource" xlink:label="sblk_VoyageExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total voyage expenses</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VoyageRevenues" xlink:label="sblk_VoyageRevenues"/>
    <label xlink:type="resource" xlink:label="sblk_VoyageRevenues_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">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>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Voyage Revenues</label>
    <label xlink:type="resource" xlink:label="sblk_VoyageRevenues_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Voyage revenues</label>
    <label xlink:type="resource" xlink:label="sblk_VoyageRevenues_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Revenue loss due to engine failure</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_VoyageVesselOperatingExpensesTextBlock" xlink:label="sblk_VoyageVesselOperatingExpensesTextBlock"/>
    <label xlink:type="resource" xlink:label="sblk_VoyageVesselOperatingExpensesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">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>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Voyage And Vessel Operating Expenses [Text Block]</label>
    <label xlink:type="resource" xlink:label="sblk_VoyageVesselOperatingExpensesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Voyage and Vessel operating expenses</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_WolverineMember" xlink:label="sblk_WolverineMember"/>
    <label xlink:type="resource" xlink:label="sblk_WolverineMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The vessel Wolverine.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Wolverine [Member]</label>
    <label xlink:type="resource" xlink:label="sblk_WolverineMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Wolverine</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_WriteOffOfUnamortizedFairValueOfBelowMarketAcquiredTimeCharterOnVesselRedelivery" xlink:label="sblk_WriteOffOfUnamortizedFairValueOfBelowMarketAcquiredTimeCharterOnVesselRedelivery"/>
    <label xlink:type="resource" xlink:label="sblk_WriteOffOfUnamortizedFairValueOfBelowMarketAcquiredTimeCharterOnVesselRedelivery_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Write Off Of Unamortized Fair Value Of Below Market Acquired Time Charter On Vessel Redelivery</label>
    <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" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Gain on time charter agreement termination</label>
    <loc xlink:type="locator" xlink:href="sblk-20160630.xsd#sblk_WriteOffOfUnamortizedTimeCharterTerminationDeferredRevenue" xlink:label="sblk_WriteOffOfUnamortizedTimeCharterTerminationDeferredRevenue"/>
    <label xlink:type="resource" xlink:label="sblk_WriteOffOfUnamortizedTimeCharterTerminationDeferredRevenue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The write off of unamortized time charter termination deferred revenue.</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Write Off Of Unamortized Time Charter Termination Deferred Revenue</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="us-gaap_AccountingPoliciesAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_AccountingPoliciesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Significant accounting policies and recent accounting pronouncements [Abstract]</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accounts Payable And Accrued Liabilities Disclosure [Text Block]</label>
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    <label xlink:type="resource" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Accrued liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccountsPayableTradeCurrent" xlink:label="us-gaap_AccountsPayableTradeCurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_AccountsPayableTradeCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accounts payable, current</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Accounts payable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccountsReceivableGrossCurrent" xlink:label="us-gaap_AccountsReceivableGrossCurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_AccountsReceivableGrossCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade accounts receivable, gross</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Trade accounts receivable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="us-gaap_AccountsReceivableNetCurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_AccountsReceivableNetCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accounts Receivable Net Current</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Trade accounts receivable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccountsReceivableNet" xlink:label="us-gaap_AccountsReceivableNet"/>
    <label xlink:type="resource" xlink:label="us-gaap_AccountsReceivableNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accounts Receivable Net</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Accounts receivable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccrualForEnvironmentalLossContingenciesDisclosureAbstract" xlink:label="us-gaap_AccrualForEnvironmentalLossContingenciesDisclosureAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_AccrualForEnvironmentalLossContingenciesDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accrual For Environmental Loss Contingencies Disclosure [Abstract]</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccruedLiabilitiesCurrentAbstract" xlink:label="us-gaap_AccruedLiabilitiesCurrentAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_AccruedLiabilitiesCurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accrued Liabilities (Abstract)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedLiabilitiesCurrentAbstract" xlink:to="us-gaap_AccruedLiabilitiesCurrentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccruedLiabilitiesCurrentAndNoncurrentAbstract" xlink:label="us-gaap_AccruedLiabilitiesCurrentAndNoncurrentAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_AccruedLiabilitiesCurrentAndNoncurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accrued Liabilities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedLiabilitiesCurrentAndNoncurrentAbstract" xlink:to="us-gaap_AccruedLiabilitiesCurrentAndNoncurrentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccruedLiabilitiesCurrent" xlink:label="us-gaap_AccruedLiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_AccruedLiabilitiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accrued Liabilities Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedLiabilitiesCurrent" xlink:to="us-gaap_AccruedLiabilitiesCurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_AccruedLiabilitiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Accrued liabilities</label>
    <label xlink:type="resource" xlink:label="us-gaap_AccruedLiabilitiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total Accrued Liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accumulated depreciation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:to="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Accumulated depreciation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax"/>
    <label xlink:type="resource" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Accumulated other comprehensive income / (loss) - Interest rate swaps</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
    <label xlink:type="resource" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accumulated Other Comprehensive Income Loss Net Of Tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Accumulated other comprehensive loss (Note 14)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife" xlink:label="us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife"/>
    <label xlink:type="resource" xlink:label="us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Amortization weighted-average period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife" xlink:to="us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Amortization weighted-average remaining period</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock"/>
    <label xlink:type="resource" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Additional Paid In Capital Common Stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalCommonStock" xlink:to="us-gaap_AdditionalPaidInCapitalCommonStock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Additional paid in capital</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="us-gaap_AdditionalPaidInCapitalMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_AdditionalPaidInCapitalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Additional Paid In Capital [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalMember" xlink:to="us-gaap_AdditionalPaidInCapitalMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_AdditionalPaidInCapitalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Additional Paid-in Capital</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalOther" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalOther"/>
    <label xlink:type="resource" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalOther_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Adjustments To Additional Paid In Capital Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToAdditionalPaidInCapitalOther" xlink:to="us-gaap_AdjustmentsToAdditionalPaidInCapitalOther_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalOther_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Shares for commission to Oceanbulk Maritime (Note 3)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue"/>
    <label xlink:type="resource" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:to="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Amortization of stock-based compensation (Note 12)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts"/>
    <label xlink:type="resource" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Adjustments To Additional Paid In Capital Stock Issued Issuance Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts" xlink:to="us-gaap_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Offering expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Adjustments to reconcile net loss to net cash provided by/(used in) operating activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities"/>
    <label xlink:type="resource" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:label="us-gaap_AllocatedShareBasedCompensationExpense"/>
    <label xlink:type="resource" xlink:label="us-gaap_AllocatedShareBasedCompensationExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Allocated Shared Based Compensation Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllocatedShareBasedCompensationExpense" xlink:to="us-gaap_AllocatedShareBasedCompensationExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Allowance For Doubtful Accounts Receivable Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Provision for doubtful accounts</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable"/>
    <label xlink:type="resource" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Allowance For Doubtful Accounts Receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Provision for doubtful receivables</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AmortizationOfAboveAndBelowMarketLeases" xlink:label="us-gaap_AmortizationOfAboveAndBelowMarketLeases"/>
    <label xlink:type="resource" xlink:label="us-gaap_AmortizationOfAboveAndBelowMarketLeases_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Amortization of above and below Market Leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfAboveAndBelowMarketLeases" xlink:to="us-gaap_AmortizationOfAboveAndBelowMarketLeases_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_AmortizationOfAboveAndBelowMarketLeases_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Amortization of fair value of above market acquired time charters (Note 7)</label>
    <label xlink:type="resource" xlink:label="us-gaap_AmortizationOfAboveAndBelowMarketLeases_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Amortization</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AmortizationOfDeferredLeasingFees" xlink:label="us-gaap_AmortizationOfDeferredLeasingFees"/>
    <label xlink:type="resource" xlink:label="us-gaap_AmortizationOfDeferredLeasingFees_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Amortization of Deferred Leasing Fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfDeferredLeasingFees" xlink:to="us-gaap_AmortizationOfDeferredLeasingFees_lbl"/>
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    <label xlink:type="resource" xlink:label="us-gaap_AmortizationOfFinancingCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Amortization of deferred finance charges (Note 8)</label>
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    <label xlink:type="resource" xlink:label="us-gaap_AmortizationOfFinancingCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Amortization of deferred finance charges</label>
    <label xlink:type="resource" xlink:label="us-gaap_AmortizationOfFinancingCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Amortization of loan expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount"/>
    <label xlink:type="resource" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:to="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Number of anti-dilutive shares</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:label="us-gaap_ArrangementsAndNonarrangementTransactionsMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_ArrangementsAndNonarrangementTransactionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Arrangements and Non-arrangement Transactions [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:to="us-gaap_ArrangementsAndNonarrangementTransactionsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="us-gaap_AssetImpairmentCharges"/>
    <label xlink:type="resource" xlink:label="us-gaap_AssetImpairmentCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xml:lang="en-US">Impairment loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetImpairmentCharges" xlink:to="us-gaap_AssetImpairmentCharges_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_AssetImpairmentCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Impairment loss</label>
    <label xlink:type="resource" xlink:label="us-gaap_AssetImpairmentCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Impairment loss (Note 5 and Note 6)</label>
    <label xlink:type="resource" xlink:label="us-gaap_AssetImpairmentCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Vessel impairment loss (Note 5 and Note 6)</label>
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    <label xlink:type="resource" xlink:label="us-gaap_AssetImpairmentCharges_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedNetLabel" xml:lang="en-US">Impairment charge</label>
    <label xlink:type="resource" xlink:label="us-gaap_AssetImpairmentCharges_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xml:lang="en-US">Impairment loss</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="us-gaap_AssetsAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_AssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Assets [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsAbstract" xlink:to="us-gaap_AssetsAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_AssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">ASSETS</label>
    <label xlink:type="resource" xlink:label="us-gaap_AssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:label="us-gaap_AssetsCurrentAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_AssetsCurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Assets Current [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_AssetsCurrentAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_AssetsCurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">CURRENT ASSETS</label>
    <label xlink:type="resource" xlink:label="us-gaap_AssetsCurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">CURRENT ASSETS</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="us-gaap_AssetsCurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_AssetsCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total Current Assets</label>
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    <label xlink:type="resource" xlink:label="us-gaap_AssetsCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total Current Assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AssetsFairValueAdjustment" xlink:label="us-gaap_AssetsFairValueAdjustment"/>
    <label xlink:type="resource" xlink:label="us-gaap_AssetsFairValueAdjustment_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xml:lang="en-US">Fair value adjustment (Notes 1)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsFairValueAdjustment" xlink:to="us-gaap_AssetsFairValueAdjustment_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_AssetsFairValueAdjustment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Assets fair value adjustment</label>
    <label xlink:type="resource" xlink:label="us-gaap_AssetsFairValueAdjustment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fair value adjustment recognized</label>
    <label xlink:type="resource" xlink:label="us-gaap_AssetsFairValueAdjustment_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair value adjustment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AssetsFairValueDisclosure" xlink:label="us-gaap_AssetsFairValueDisclosure"/>
    <label xlink:type="resource" xlink:label="us-gaap_AssetsFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Assets Fair Value Disclosure</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsFairValueDisclosure" xlink:to="us-gaap_AssetsFairValueDisclosure_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_AssetsFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fair value adjustment (Notes 1)</label>
    <label xlink:type="resource" xlink:label="us-gaap_AssetsFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair value adjustment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure" xlink:label="us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure"/>
    <label xlink:type="resource" xlink:label="us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Assets Held For Sale Long Lived Fair Value Disclosure</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure" xlink:to="us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_AssetsHeldForSaleLongLivedFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Assets held for sale</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AssetsHeldForSaleLongLived" xlink:label="us-gaap_AssetsHeldForSaleLongLived"/>
    <label xlink:type="resource" xlink:label="us-gaap_AssetsHeldForSaleLongLived_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Assets Held For Sale Long Lived</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsHeldForSaleLongLived" xlink:to="us-gaap_AssetsHeldForSaleLongLived_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets"/>
    <label xlink:type="resource" xlink:label="us-gaap_Assets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">TOTAL ASSETS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_Assets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Total assets acquired</label>
    <label xlink:type="resource" xlink:label="us-gaap_Assets_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">TOTAL ASSETS</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="us-gaap_AwardTypeAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_AwardTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Award Type [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AwardTypeAxis" xlink:to="us-gaap_AwardTypeAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BalanceSheetLocationAxis" xlink:label="us-gaap_BalanceSheetLocationAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_BalanceSheetLocationAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Balance Sheet Location [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BalanceSheetLocationAxis" xlink:to="us-gaap_BalanceSheetLocationAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BalanceSheetLocationDomain" xlink:label="us-gaap_BalanceSheetLocationDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_BalanceSheetLocationDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Balance Sheet Location [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BalanceSheetLocationDomain" xlink:to="us-gaap_BalanceSheetLocationDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BeneficialOwnerMember" xlink:label="us-gaap_BeneficialOwnerMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_BeneficialOwnerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Beneficial Owner [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BeneficialOwnerMember" xlink:to="us-gaap_BeneficialOwnerMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_BeneficialOwnerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Oaktree</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BrokersAndDealersDisclosureTextBlock" xlink:label="us-gaap_BrokersAndDealersDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_BrokersAndDealersDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Brokers and Dealers Disclosure [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BrokersAndDealersDisclosureTextBlock" xlink:to="us-gaap_BrokersAndDealersDisclosureTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_BrokersAndDealersDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Management fees</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="us-gaap_BusinessAcquisitionAcquireeDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_BusinessAcquisitionAcquireeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Acquiree [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionAcquireeDomain" xlink:to="us-gaap_BusinessAcquisitionAcquireeDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="us-gaap_BusinessAcquisitionAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_BusinessAcquisitionAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionAxis" xlink:to="us-gaap_BusinessAcquisitionAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" xlink:label="us-gaap_BusinessAcquisitionCostOfAcquiredEntityTransactionCosts"/>
    <label xlink:type="resource" xlink:label="us-gaap_BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Cost Of Acquired Entity Transaction Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" xlink:to="us-gaap_BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Acquisition related costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessAcquisitionDateOfAcquisitionAgreement1" xlink:label="us-gaap_BusinessAcquisitionDateOfAcquisitionAgreement1"/>
    <label xlink:type="resource" xlink:label="us-gaap_BusinessAcquisitionDateOfAcquisitionAgreement1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition, Date of Acquisition Agreement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionDateOfAcquisitionAgreement1" xlink:to="us-gaap_BusinessAcquisitionDateOfAcquisitionAgreement1_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_BusinessAcquisitionDateOfAcquisitionAgreement1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Acquisition date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1" xlink:label="us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1"/>
    <label xlink:type="resource" xlink:label="us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition, Effective Date of Acquisition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1" xlink:to="us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Delivery date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued" xlink:label="us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued"/>
    <label xlink:type="resource" xlink:label="us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Equity Interests Issued Or Issuable Number Of Shares Issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued" xlink:to="us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Shares to acquire business</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="us-gaap_BusinessAcquisitionLineItems"/>
    <label xlink:type="resource" xlink:label="us-gaap_BusinessAcquisitionLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionLineItems" xlink:to="us-gaap_BusinessAcquisitionLineItems_lbl"/>
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    <label xlink:type="resource" xlink:label="us-gaap_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Consideration paid in common shares for Oceanbulk and Pappas Companies (51,988,494 shares issued)</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeaseObligationsMember" xlink:label="us-gaap_CapitalLeaseObligationsMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeaseObligationsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Lease Obligations [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeaseObligationsMember" xlink:to="us-gaap_CapitalLeaseObligationsMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeaseObligationsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Capital Lease Obligations</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeaseObligationsNoncurrent" xlink:label="us-gaap_CapitalLeaseObligationsNoncurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeaseObligationsNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Lease Obligations Noncurrent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeaseObligationsNoncurrent" xlink:to="us-gaap_CapitalLeaseObligationsNoncurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeaseObligationsNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Lease commitments long term (Notes 5 and 8)</label>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeaseObligationsNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Lease commitments - non-current portion</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeaseObligations" xlink:label="us-gaap_CapitalLeaseObligations"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeaseObligations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Lease Obligations</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total Long term debt</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasedAssetsNumberOfUnits" xlink:label="us-gaap_CapitalLeasedAssetsNumberOfUnits"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasedAssetsNumberOfUnits_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leased Assets, Number of Units</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasedAssetsNumberOfUnits" xlink:to="us-gaap_CapitalLeasedAssetsNumberOfUnits_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasedAssetsNumberOfUnits_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Capital leased assets, Number of vessels</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet" xlink:label="us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases, Balance Sheet, Assets by Major Class, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet" xlink:to="us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Capital leased assets, Net book value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueAbstract" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Years</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases Future Minimum Payments Due Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">December 31, 2016</label>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2016</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases Future Minimum Payments Due In Five Years</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">December 31, 2020</label>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2020</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases Future Minimum Payments Due In Four Years</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">December 31, 2019</label>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2019</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases, Future Minimum Payments, Due in Rolling after Year Five</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">June 30, 2022 and thereafter</label>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2022 and thereafter</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases, Future Minimum Payments, Due in Rolling Year Five</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">June 30, 2021</label>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2021</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases, Future Minimum Payments, Due in Rolling Year Four</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">June 30, 2020</label>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2020</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases, Future Minimum Payments, Due in Rolling Year Three</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">June 30, 2019</label>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2019</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases, Future Minimum Payments, Due in Rolling Year Two</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">June 30, 2018</label>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2018</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capita Leases Future Minimum Payments Due In Three Years</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">December 31, 2018</label>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2018</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capita lLeases Future Minimum Payments Due In Two Years</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">December 31, 2017</label>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2017</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueRollingMaturityAbstract" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueRollingMaturityAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueRollingMaturityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Twelve month periods ending</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases Future Minimum Payments Due Thereafter</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">December, 2021 and thereafter</label>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2021 and thereafter</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDue" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDue"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases Future Minimum Payments Due</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDue" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDue_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDue_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total capital lease minimum payments</label>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDue_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xml:lang="en-US">Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases Future Minimum Payments Interest Included In Payments</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Excluding bareboat interest</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases, Future Minimum Payments, Next Rolling Twelve Months</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">June 30, 2017</label>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2017</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases, Future Minimum Payments, Present Value of Net Minimum Payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total lease commitments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableCurrent" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableCurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases Future Minimum Payments Receivable Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableCurrent" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableCurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">2015</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableDueThereafter" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableDueThereafter"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableDueThereafter_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases Future Minimum Payments Receivable Due Thereafter</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableDueThereafter" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableDueThereafter_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableDueThereafter_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">2020 and thereafter</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFiveYears" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFiveYears"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFiveYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases Future Minimum Payments Receivable In Five Years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFiveYears" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFiveYears_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFiveYears_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">2019</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFourYears" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFourYears"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFourYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases Future Minimum Payments Receivable In Four Years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFourYears" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFourYears_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFourYears_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">2018</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInThreeYears" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInThreeYears"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInThreeYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases Future Minimum Payments Receivable In Three Years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInThreeYears" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInThreeYears_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInThreeYears_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">2017</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInTwoYears" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInTwoYears"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInTwoYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases Future Minimum Payments Receivable In Two Years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInTwoYears" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInTwoYears_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInTwoYears_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">2016</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsReceivable" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivable"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases Future Minimum Payments Receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivable" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivable_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivable_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation" xlink:label="us-gaap_CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation" xlink:to="us-gaap_CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Accumulated amortization</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CapitalLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis" xlink:label="us-gaap_CapitalLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases Of Lessee Contingent Rentals Description Of Variable Rate Basis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis" xlink:to="us-gaap_CapitalLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CapitalLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Variable portion of payment to SWS owner</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CashAcquiredFromAcquisition" xlink:label="us-gaap_CashAcquiredFromAcquisition"/>
    <label xlink:type="resource" xlink:label="us-gaap_CashAcquiredFromAcquisition_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash Acquired From Acquisition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAcquiredFromAcquisition" xlink:to="us-gaap_CashAcquiredFromAcquisition_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CashAcquiredFromAcquisition_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Cash received from Merger &amp; Pappas Transaction (Note 1)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <label xlink:type="resource" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Cash and cash equivalents at end of the period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Cash and cash equivalents at beginning of period</label>
    <label xlink:type="resource" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash And Cash Equivalents At Carrying Value</label>
    <label xlink:type="resource" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Cash and cash equivalents</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CashAndCashEquivalentsAxis" xlink:label="us-gaap_CashAndCashEquivalentsAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_CashAndCashEquivalentsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash and Cash Equivalents [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAxis" xlink:to="us-gaap_CashAndCashEquivalentsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CashAndCashEquivalentsMember" xlink:label="us-gaap_CashAndCashEquivalentsMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_CashAndCashEquivalentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash And Cash Equivalents [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsMember" xlink:to="us-gaap_CashAndCashEquivalentsMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CashAndCashEquivalentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Not legally restricted</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease"/>
    <label xlink:type="resource" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net increase/(decrease) in cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Net (decrease) / increase in cash and cash equivalents</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash And Cash Equivalents Policy Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Cash and cash equivalents</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:label="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy"/>
    <label xlink:type="resource" xlink:label="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash And Cash Equivalents Restricted Cash And Cash Equivalents Policy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:to="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Restricted cash</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CashMember" xlink:label="us-gaap_CashMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_CashMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashMember" xlink:to="us-gaap_CashMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CashMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Existing cash</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ChangeInAccountingEstimateByTypeAxis" xlink:label="us-gaap_ChangeInAccountingEstimateByTypeAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_ChangeInAccountingEstimateByTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Change in Accounting Estimate by Type [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ChangeInAccountingEstimateByTypeAxis" xlink:to="us-gaap_ChangeInAccountingEstimateByTypeAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ChangeInAccountingEstimateDescription" xlink:label="us-gaap_ChangeInAccountingEstimateDescription"/>
    <label xlink:type="resource" xlink:label="us-gaap_ChangeInAccountingEstimateDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Change in Accounting Estimate, Description</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ChangeInAccountingEstimateDescription" xlink:to="us-gaap_ChangeInAccountingEstimateDescription_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ChangeInAccountingEstimateFinancialEffect" xlink:label="us-gaap_ChangeInAccountingEstimateFinancialEffect"/>
    <label xlink:type="resource" xlink:label="us-gaap_ChangeInAccountingEstimateFinancialEffect_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Change in Accounting Estimate, Financial Effect</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ChangeInAccountingEstimateFinancialEffect" xlink:to="us-gaap_ChangeInAccountingEstimateFinancialEffect_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ChangeInAccountingEstimateLineItems" xlink:label="us-gaap_ChangeInAccountingEstimateLineItems"/>
    <label xlink:type="resource" xlink:label="us-gaap_ChangeInAccountingEstimateLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Change in Accounting Estimate [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ChangeInAccountingEstimateLineItems" xlink:to="us-gaap_ChangeInAccountingEstimateLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ChangeInAccountingEstimateTypeDomain" xlink:label="us-gaap_ChangeInAccountingEstimateTypeDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_ChangeInAccountingEstimateTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Change in Accounting Estimate, Type [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ChangeInAccountingEstimateTypeDomain" xlink:to="us-gaap_ChangeInAccountingEstimateTypeDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ChiefExecutiveOfficerMember" xlink:label="us-gaap_ChiefExecutiveOfficerMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_ChiefExecutiveOfficerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Chief Executive Officer [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ChiefExecutiveOfficerMember" xlink:to="us-gaap_ChiefExecutiveOfficerMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ChiefExecutiveOfficerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Chief Executive Officer</label>
    <label xlink:type="resource" xlink:label="us-gaap_ChiefExecutiveOfficerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">CEO</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ChiefFinancialOfficerMember" xlink:label="us-gaap_ChiefFinancialOfficerMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_ChiefFinancialOfficerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Chief Financial Officer [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ChiefFinancialOfficerMember" xlink:to="us-gaap_ChiefFinancialOfficerMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ChiefFinancialOfficerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">CFO</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ChiefOperatingOfficerMember" xlink:label="us-gaap_ChiefOperatingOfficerMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_ChiefOperatingOfficerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Chief Operating Officer [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ChiefOperatingOfficerMember" xlink:to="us-gaap_ChiefOperatingOfficerMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ChiefOperatingOfficerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">COO</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="us-gaap_ClassOfStockDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_ClassOfStockDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class of Stock [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfStockDomain" xlink:to="us-gaap_ClassOfStockDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ClassOfStockLineItems" xlink:label="us-gaap_ClassOfStockLineItems"/>
    <label xlink:type="resource" xlink:label="us-gaap_ClassOfStockLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class of Stock [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfStockLineItems" xlink:to="us-gaap_ClassOfStockLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights" xlink:label="us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights"/>
    <label xlink:type="resource" xlink:label="us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Exercise price of warrant NOTUSED</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights" xlink:to="us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" xlink:label="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights"/>
    <label xlink:type="resource" xlink:label="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Number of common stock shares called by warrants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" xlink:to="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ClassOfWarrantOrRightOutstanding" xlink:label="us-gaap_ClassOfWarrantOrRightOutstanding"/>
    <label xlink:type="resource" xlink:label="us-gaap_ClassOfWarrantOrRightOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Number of warrants outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfWarrantOrRightOutstanding" xlink:to="us-gaap_ClassOfWarrantOrRightOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CollateralAxis" xlink:label="us-gaap_CollateralAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_CollateralAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Collateral [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CollateralAxis" xlink:to="us-gaap_CollateralAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CollateralDomain" xlink:label="us-gaap_CollateralDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_CollateralDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Collateral [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CollateralDomain" xlink:to="us-gaap_CollateralDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CollateralPledgedMember" xlink:label="us-gaap_CollateralPledgedMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_CollateralPledgedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Collateral Pledged [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CollateralPledgedMember" xlink:to="us-gaap_CollateralPledgedMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CollateralPledgedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">First-priority mortgage</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commitments and Contingencies [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commitments and Contingencies Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Commitments and Contingencies:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="us-gaap_CommitmentsAndContingencies"/>
    <label xlink:type="resource" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commitments And Contingencies</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingencies" xlink:to="us-gaap_CommitmentsAndContingencies_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">COMMITMENTS &amp; CONTINGENCIES (Note 13)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommonStockCapitalSharesReservedForFutureIssuance" xlink:label="us-gaap_CommonStockCapitalSharesReservedForFutureIssuance"/>
    <label xlink:type="resource" xlink:label="us-gaap_CommonStockCapitalSharesReservedForFutureIssuance_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Common Stock Capital Shares Reserved For Future Issuance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockCapitalSharesReservedForFutureIssuance" xlink:to="us-gaap_CommonStockCapitalSharesReservedForFutureIssuance_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CommonStockCapitalSharesReservedForFutureIssuance_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Shares reserved for issuance</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommonStockDividendsPerShareCashPaid" xlink:label="us-gaap_CommonStockDividendsPerShareCashPaid"/>
    <label xlink:type="resource" xlink:label="us-gaap_CommonStockDividendsPerShareCashPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Common Stock Dividends Per Share Cash Paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockDividendsPerShareCashPaid" xlink:to="us-gaap_CommonStockDividendsPerShareCashPaid_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CommonStockDividendsPerShareCashPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Dividend paid, per share</label>
    <label xlink:type="resource" xlink:label="us-gaap_CommonStockDividendsPerShareCashPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Dividends declared and paid, per share</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommonStockMember" xlink:label="us-gaap_CommonStockMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_CommonStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Common Stock [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CommonStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Common Stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract" xlink:label="us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Common Stock Disclosures [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract" xlink:to="us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Common Stock:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare"/>
    <label xlink:type="resource" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Common Stock - Par Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="us-gaap_CommonStockSharesAuthorized"/>
    <label xlink:type="resource" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Common Stock - Shares Authorized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesAuthorized" xlink:to="us-gaap_CommonStockSharesAuthorized_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued"/>
    <label xlink:type="resource" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">BALANCE, shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">BALANCE, shares</label>
    <label xlink:type="resource" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Common Stock - Shares Issued</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding"/>
    <label xlink:type="resource" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Common Stock - Shares Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue"/>
    <label xlink:type="resource" xlink:label="us-gaap_CommonStockValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Common Stock, $0.01 par value, 300,000,000 shares authorized; 43,821,114 and 43,955,659 shares issued and outstanding at December 31, 2015 and June 30, 2016, respectively (Note 9)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="us-gaap_CommonStockValue_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CommonStockValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Issuance of common stock to stockholders (non-cash stock dividend)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ComponentOfOtherExpenseNonoperatingLineItems" xlink:label="us-gaap_ComponentOfOtherExpenseNonoperatingLineItems"/>
    <label xlink:type="resource" xlink:label="us-gaap_ComponentOfOtherExpenseNonoperatingLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Operational Loss [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComponentOfOtherExpenseNonoperatingLineItems" xlink:to="us-gaap_ComponentOfOtherExpenseNonoperatingLineItems_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ComponentOfOtherExpenseNonoperatingLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Other Operational Loss</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ComponentOfOtherIncomeNonoperatingLineItems" xlink:label="us-gaap_ComponentOfOtherIncomeNonoperatingLineItems"/>
    <label xlink:type="resource" xlink:label="us-gaap_ComponentOfOtherIncomeNonoperatingLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Operational Gain [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComponentOfOtherIncomeNonoperatingLineItems" xlink:to="us-gaap_ComponentOfOtherIncomeNonoperatingLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax"/>
    <label xlink:type="resource" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Comprehensive Income Net Of Tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="us-gaap_ComprehensiveIncomeNetOfTax_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Comprehensive income / (loss)</label>
    <label xlink:type="resource" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Comprehensive (loss)/income</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ComprehensiveIncomePolicyPolicyTextBlock" xlink:label="us-gaap_ComprehensiveIncomePolicyPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_ComprehensiveIncomePolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Comprehensive income/(loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComprehensiveIncomePolicyPolicyTextBlock" xlink:to="us-gaap_ComprehensiveIncomePolicyPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConcentrationRiskBenchmarkDomain" xlink:label="us-gaap_ConcentrationRiskBenchmarkDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConcentrationRiskBenchmarkDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Concentration Risk Benchmark [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskBenchmarkDomain" xlink:to="us-gaap_ConcentrationRiskBenchmarkDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:label="us-gaap_ConcentrationRiskByBenchmarkAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConcentrationRiskByBenchmarkAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Concentration Risk Benchmark [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:to="us-gaap_ConcentrationRiskByBenchmarkAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConcentrationRiskByTypeAxis" xlink:label="us-gaap_ConcentrationRiskByTypeAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConcentrationRiskByTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Concentration Risk Type [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskByTypeAxis" xlink:to="us-gaap_ConcentrationRiskByTypeAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConcentrationRiskCreditRisk" xlink:label="us-gaap_ConcentrationRiskCreditRisk"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConcentrationRiskCreditRisk_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Concentration Risk Credit Risk</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskCreditRisk" xlink:to="us-gaap_ConcentrationRiskCreditRisk_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConcentrationRiskCreditRisk_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Concentration of credit risk</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConcentrationRiskLineItems" xlink:label="us-gaap_ConcentrationRiskLineItems"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConcentrationRiskLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Concentration of Risk [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskLineItems" xlink:to="us-gaap_ConcentrationRiskLineItems_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConcentrationRiskLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Concentration of risk</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConcentrationRiskPercentage1" xlink:label="us-gaap_ConcentrationRiskPercentage1"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConcentrationRiskPercentage1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Concentration Risk Percentage 1</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskPercentage1" xlink:to="us-gaap_ConcentrationRiskPercentage1_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConcentrationRiskPercentage1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Concentration of Risk</label>
    <label xlink:type="resource" xlink:label="us-gaap_ConcentrationRiskPercentage1_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Major customer revenue percentage</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConcentrationRiskTable" xlink:label="us-gaap_ConcentrationRiskTable"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConcentrationRiskTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Concentration of Risk [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskTable" xlink:to="us-gaap_ConcentrationRiskTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConcentrationRiskTypeDomain" xlink:label="us-gaap_ConcentrationRiskTypeDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConcentrationRiskTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Concentration Risk Type [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskTypeDomain" xlink:to="us-gaap_ConcentrationRiskTypeDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConsolidationPolicyTextBlock" xlink:label="us-gaap_ConsolidationPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConsolidationPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Consolidation Policy Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConsolidationPolicyTextBlock" xlink:to="us-gaap_ConsolidationPolicyTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConsolidationPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Principles of consolidation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConstructionInProgressGross" xlink:label="us-gaap_ConstructionInProgressGross"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConstructionInProgressGross_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xml:lang="en-US">Advances for vessels under construction and acquisition of vessels (Note 6)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConstructionInProgressGross" xlink:to="us-gaap_ConstructionInProgressGross_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConstructionInProgressGross_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveVerboseLabel" xml:lang="en-US">Commission fee for newbuilding vessels</label>
    <label xlink:type="resource" xlink:label="us-gaap_ConstructionInProgressGross_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Advances for vessels under construction and acquisition of vessels (Note 6)</label>
    <label xlink:type="resource" xlink:label="us-gaap_ConstructionInProgressGross_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Advances for vessels under construction and acquisition of vessels</label>
    <label xlink:type="resource" xlink:label="us-gaap_ConstructionInProgressGross_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total</label>
    <label xlink:type="resource" xlink:label="us-gaap_ConstructionInProgressGross_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ContractualObligationDueAfterFifthYear" xlink:label="us-gaap_ContractualObligationDueAfterFifthYear"/>
    <label xlink:type="resource" xlink:label="us-gaap_ContractualObligationDueAfterFifthYear_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Contractual Obligation Due After Fifth Year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractualObligationDueAfterFifthYear" xlink:to="us-gaap_ContractualObligationDueAfterFifthYear_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ContractualObligationDueAfterFifthYear_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2022 and thereafter</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ContractualObligationDueInFifthYear" xlink:label="us-gaap_ContractualObligationDueInFifthYear"/>
    <label xlink:type="resource" xlink:label="us-gaap_ContractualObligationDueInFifthYear_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Contractual Obligation Due In Fifth Year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractualObligationDueInFifthYear" xlink:to="us-gaap_ContractualObligationDueInFifthYear_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ContractualObligationDueInFifthYear_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2021</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ContractualObligationDueInFourthYear" xlink:label="us-gaap_ContractualObligationDueInFourthYear"/>
    <label xlink:type="resource" xlink:label="us-gaap_ContractualObligationDueInFourthYear_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Contractual Obligation Due In Fourth Year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractualObligationDueInFourthYear" xlink:to="us-gaap_ContractualObligationDueInFourthYear_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ContractualObligationDueInFourthYear_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2020</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ContractualObligationDueInNextTwelveMonths" xlink:label="us-gaap_ContractualObligationDueInNextTwelveMonths"/>
    <label xlink:type="resource" xlink:label="us-gaap_ContractualObligationDueInNextTwelveMonths_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Contractual Obligation Due In Next Twelve Months</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractualObligationDueInNextTwelveMonths" xlink:to="us-gaap_ContractualObligationDueInNextTwelveMonths_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ContractualObligationDueInNextTwelveMonths_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2017</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ContractualObligationDueInSecondYear" xlink:label="us-gaap_ContractualObligationDueInSecondYear"/>
    <label xlink:type="resource" xlink:label="us-gaap_ContractualObligationDueInSecondYear_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Contractual Obligation Due In Second Year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractualObligationDueInSecondYear" xlink:to="us-gaap_ContractualObligationDueInSecondYear_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ContractualObligationDueInSecondYear_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2018</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ContractualObligationDueInThirdYear" xlink:label="us-gaap_ContractualObligationDueInThirdYear"/>
    <label xlink:type="resource" xlink:label="us-gaap_ContractualObligationDueInThirdYear_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Contractual Obligation Due In Third Year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractualObligationDueInThirdYear" xlink:to="us-gaap_ContractualObligationDueInThirdYear_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ContractualObligationDueInThirdYear_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2019</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ContractualObligationFiscalYearMaturityScheduleTableTextBlock" xlink:label="us-gaap_ContractualObligationFiscalYearMaturityScheduleTableTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_ContractualObligationFiscalYearMaturityScheduleTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Contractual Obligation Fiscal Year Maturity Schedule [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractualObligationFiscalYearMaturityScheduleTableTextBlock" xlink:to="us-gaap_ContractualObligationFiscalYearMaturityScheduleTableTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ContractualObligationFiscalYearMaturityScheduleTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Schedule of future minimum contractual obligations</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ContractualObligation" xlink:label="us-gaap_ContractualObligation"/>
    <label xlink:type="resource" xlink:label="us-gaap_ContractualObligation_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Contractual Obligation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractualObligation" xlink:to="us-gaap_ContractualObligation_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ContractualObligation_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xml:lang="en-US">Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConversionOfStockByUniqueDescriptionAxis" xlink:label="us-gaap_ConversionOfStockByUniqueDescriptionAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConversionOfStockByUniqueDescriptionAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Conversion Description [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConversionOfStockByUniqueDescriptionAxis" xlink:to="us-gaap_ConversionOfStockByUniqueDescriptionAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConversionOfStockNameDomain" xlink:label="us-gaap_ConversionOfStockNameDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConversionOfStockNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Conversion of Stock, Name [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConversionOfStockNameDomain" xlink:to="us-gaap_ConversionOfStockNameDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConversionOfStockSharesConverted1" xlink:label="us-gaap_ConversionOfStockSharesConverted1"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConversionOfStockSharesConverted1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Conversion of Stock, Shares Converted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConversionOfStockSharesConverted1" xlink:to="us-gaap_ConversionOfStockSharesConverted1_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConversionOfStockSharesConverted1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Shares converted</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConversionOfStockSharesIssued1" xlink:label="us-gaap_ConversionOfStockSharesIssued1"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConversionOfStockSharesIssued1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Conversion of Stock, Shares Issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConversionOfStockSharesIssued1" xlink:to="us-gaap_ConversionOfStockSharesIssued1_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConversionOfStockSharesIssued1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Shares issued</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConversionOfStockTypeOfStockConverted" xlink:label="us-gaap_ConversionOfStockTypeOfStockConverted"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConversionOfStockTypeOfStockConverted_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Conversion of Stock, Type of Stock Converted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConversionOfStockTypeOfStockConverted" xlink:to="us-gaap_ConversionOfStockTypeOfStockConverted_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConversionOfStockTypeOfStockConverted_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Type of stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConvertibleDebt" xlink:label="us-gaap_ConvertibleDebt"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConvertibleDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Convertible debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConvertibleDebt" xlink:to="us-gaap_ConvertibleDebt_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ConvertibleDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Outstanding loan receivable convertible into 50% of equity interests</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CostOfPropertyRepairsAndMaintenance" xlink:label="us-gaap_CostOfPropertyRepairsAndMaintenance"/>
    <label xlink:type="resource" xlink:label="us-gaap_CostOfPropertyRepairsAndMaintenance_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Dry docking expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfPropertyRepairsAndMaintenance" xlink:to="us-gaap_CostOfPropertyRepairsAndMaintenance_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CostOfServicesDirectTaxesAndLicensesCosts" xlink:label="us-gaap_CostOfServicesDirectTaxesAndLicensesCosts"/>
    <label xlink:type="resource" xlink:label="us-gaap_CostOfServicesDirectTaxesAndLicensesCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cost of Services, Direct Taxes and Licenses Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfServicesDirectTaxesAndLicensesCosts" xlink:to="us-gaap_CostOfServicesDirectTaxesAndLicensesCosts_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_CostOfServicesDirectTaxesAndLicensesCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Tonnage tax</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CostsAndExpensesAbstract" xlink:label="us-gaap_CostsAndExpensesAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_CostsAndExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Voyage and Vessel Operating Expenses [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="us-gaap_CostsAndExpensesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CounterpartyNameAxis" xlink:label="us-gaap_CounterpartyNameAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_CounterpartyNameAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Counterparty Name [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CounterpartyNameAxis" xlink:to="us-gaap_CounterpartyNameAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CreditFacilityAxis" xlink:label="us-gaap_CreditFacilityAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_CreditFacilityAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Credit Facility [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CreditFacilityAxis" xlink:to="us-gaap_CreditFacilityAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CreditFacilityDomain" xlink:label="us-gaap_CreditFacilityDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_CreditFacilityDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Credit Facility [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CreditFacilityDomain" xlink:to="us-gaap_CreditFacilityDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CustomerConcentrationRiskMember" xlink:label="us-gaap_CustomerConcentrationRiskMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_CustomerConcentrationRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Customer Concentration Risk [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerConcentrationRiskMember" xlink:to="us-gaap_CustomerConcentrationRiskMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtConversionByUniqueDescriptionAxis" xlink:label="us-gaap_DebtConversionByUniqueDescriptionAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtConversionByUniqueDescriptionAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Conversion Description [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtConversionByUniqueDescriptionAxis" xlink:to="us-gaap_DebtConversionByUniqueDescriptionAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtConversionConvertedInstrumentExpirationOrDueDateDayMonthAndYear" xlink:label="us-gaap_DebtConversionConvertedInstrumentExpirationOrDueDateDayMonthAndYear"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtConversionConvertedInstrumentExpirationOrDueDateDayMonthAndYear_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Conversion, Converted Instrument, Expiration or Due Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtConversionConvertedInstrumentExpirationOrDueDateDayMonthAndYear" xlink:to="us-gaap_DebtConversionConvertedInstrumentExpirationOrDueDateDayMonthAndYear_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtConversionConvertedInstrumentExpirationOrDueDateDayMonthAndYear_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Conversion date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtConversionNameDomain" xlink:label="us-gaap_DebtConversionNameDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtConversionNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Conversion, Name [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtConversionNameDomain" xlink:to="us-gaap_DebtConversionNameDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtDefaultLongtermDebtAmount" xlink:label="us-gaap_DebtDefaultLongtermDebtAmount"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtDefaultLongtermDebtAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long term debt amount outstanding under breach of covenant</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtDefaultLongtermDebtAmount" xlink:to="us-gaap_DebtDefaultLongtermDebtAmount_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="us-gaap_DebtInstrumentAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-term Debt [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentAxis" xlink:to="us-gaap_DebtInstrumentAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument Basis Spread On Variable Rate 1</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:to="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Loan interest rate margin</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentCarryingAmount" xlink:label="us-gaap_DebtInstrumentCarryingAmount"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentCarryingAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-term Debt, Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentCarryingAmount" xlink:to="us-gaap_DebtInstrumentCarryingAmount_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentCarryingAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total Long term debt</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentCollateralAmount" xlink:label="us-gaap_DebtInstrumentCollateralAmount"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentCollateralAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Collateral Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentCollateralAmount" xlink:to="us-gaap_DebtInstrumentCollateralAmount_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentCollateralAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Amount of vessels pledged as collateral</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentCollateral" xlink:label="us-gaap_DebtInstrumentCollateral"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentCollateral_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels provided as security</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentCollateral" xlink:to="us-gaap_DebtInstrumentCollateral_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentConvertibleConversionRatio1" xlink:label="us-gaap_DebtInstrumentConvertibleConversionRatio1"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentConvertibleConversionRatio1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument Convertible Conversion Ratio 1</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentConvertibleConversionRatio1" xlink:to="us-gaap_DebtInstrumentConvertibleConversionRatio1_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentConvertibleConversionRatio1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Conversion ratio</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentCovenantCompliance" xlink:label="us-gaap_DebtInstrumentCovenantCompliance"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentCovenantCompliance_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Covenant Compliance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentCovenantCompliance" xlink:to="us-gaap_DebtInstrumentCovenantCompliance_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentCovenantCompliance_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Covenant compliance</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentCovenantDescription" xlink:label="us-gaap_DebtInstrumentCovenantDescription"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentCovenantDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Covenant description</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentCovenantDescription" xlink:to="us-gaap_DebtInstrumentCovenantDescription_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentCovenantDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Loan covenants</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentDateOfFirstRequiredPayment1" xlink:label="us-gaap_DebtInstrumentDateOfFirstRequiredPayment1"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentDateOfFirstRequiredPayment1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Date of First Required Payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentDateOfFirstRequiredPayment1" xlink:to="us-gaap_DebtInstrumentDateOfFirstRequiredPayment1_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentDateOfFirstRequiredPayment1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Date of first required payment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" xlink:label="us-gaap_DebtInstrumentDescriptionOfVariableRateBasis"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loan reference interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" xlink:to="us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="us-gaap_DebtInstrumentFaceAmount"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Face Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentFaceAmount" xlink:to="us-gaap_DebtInstrumentFaceAmount_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Face amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentFrequencyOfPeriodicPayment" xlink:label="us-gaap_DebtInstrumentFrequencyOfPeriodicPayment"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentFrequencyOfPeriodicPayment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Frequency of Periodic Payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentFrequencyOfPeriodicPayment" xlink:to="us-gaap_DebtInstrumentFrequencyOfPeriodicPayment_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentFrequencyOfPeriodicPayment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Frequency of payments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentInterestRateIncreaseDecrease" xlink:label="us-gaap_DebtInstrumentInterestRateIncreaseDecrease"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentInterestRateIncreaseDecrease_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Interest Rate, Increase (Decrease)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateIncreaseDecrease" xlink:to="us-gaap_DebtInstrumentInterestRateIncreaseDecrease_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentInterestRateIncreaseDecrease_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interest rate, Margin increase</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Interest Rate, Stated Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:to="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interest rate</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentIssuanceDate1" xlink:label="us-gaap_DebtInstrumentIssuanceDate1"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentIssuanceDate1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Issuance Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentIssuanceDate1" xlink:to="us-gaap_DebtInstrumentIssuanceDate1_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentIssuanceDate1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Issuance date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="us-gaap_DebtInstrumentLineItems"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-term debt [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentLineItems" xlink:to="us-gaap_DebtInstrumentLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentMaturityDateRangeEnd1" xlink:label="us-gaap_DebtInstrumentMaturityDateRangeEnd1"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentMaturityDateRangeEnd1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Maturity Date Range, End</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentMaturityDateRangeEnd1" xlink:to="us-gaap_DebtInstrumentMaturityDateRangeEnd1_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentMaturityDateRangeEnd1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Maturity Date Range, End</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentMaturityDateRangeStart1" xlink:label="us-gaap_DebtInstrumentMaturityDateRangeStart1"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentMaturityDateRangeStart1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Maturity Date Range, Start</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentMaturityDateRangeStart1" xlink:to="us-gaap_DebtInstrumentMaturityDateRangeStart1_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentMaturityDateRangeStart1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Maturity Date Range, Start</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentMaturityDate" xlink:label="us-gaap_DebtInstrumentMaturityDate"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentMaturityDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Maturity Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentMaturityDate" xlink:to="us-gaap_DebtInstrumentMaturityDate_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentMaturityDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Maturity date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentPaymentTerms" xlink:label="us-gaap_DebtInstrumentPaymentTerms"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentPaymentTerms_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loan repayment terms</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentPaymentTerms" xlink:to="us-gaap_DebtInstrumentPaymentTerms_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:label="us-gaap_DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument Periodic Payment Terms Balloon Payment To Be Paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid" xlink:to="us-gaap_DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Balloon installment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentRedemptionDescription" xlink:label="us-gaap_DebtInstrumentRedemptionDescription"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentRedemptionDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Redemption, Description</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentRedemptionDescription" xlink:to="us-gaap_DebtInstrumentRedemptionDescription_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentRedemptionDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Redemption description</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentRedemptionPeriodAxis" xlink:label="us-gaap_DebtInstrumentRedemptionPeriodAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentRedemptionPeriodAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Redemption, Period [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentRedemptionPeriodAxis" xlink:to="us-gaap_DebtInstrumentRedemptionPeriodAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentRedemptionPeriodDomain" xlink:label="us-gaap_DebtInstrumentRedemptionPeriodDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentRedemptionPeriodDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Redemption, Period [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentRedemptionPeriodDomain" xlink:to="us-gaap_DebtInstrumentRedemptionPeriodDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentRedemptionPeriodOneMember" xlink:label="us-gaap_DebtInstrumentRedemptionPeriodOneMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentRedemptionPeriodOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Redemption, Period One [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentRedemptionPeriodOneMember" xlink:to="us-gaap_DebtInstrumentRedemptionPeriodOneMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentRedemptionPeriodOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Period One, From issuance until November 15, 2016</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentRedemptionPeriodThreeMember" xlink:label="us-gaap_DebtInstrumentRedemptionPeriodThreeMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentRedemptionPeriodThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Redemption, Period Three [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentRedemptionPeriodThreeMember" xlink:to="us-gaap_DebtInstrumentRedemptionPeriodThreeMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentRedemptionPeriodThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">At any time, From issuance until maturity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentRedemptionPeriodTwoMember" xlink:label="us-gaap_DebtInstrumentRedemptionPeriodTwoMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentRedemptionPeriodTwoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Redemption, Period Two [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentRedemptionPeriodTwoMember" xlink:to="us-gaap_DebtInstrumentRedemptionPeriodTwoMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentRedemptionPeriodTwoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Period Two, On or after November 15, 2016 until maturity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed" xlink:label="us-gaap_DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed" xlink:to="us-gaap_DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentRedemptionPricePercentage" xlink:label="us-gaap_DebtInstrumentRedemptionPricePercentage"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentRedemptionPricePercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Redemption Price, Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentRedemptionPricePercentage" xlink:to="us-gaap_DebtInstrumentRedemptionPricePercentage_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentRedemptionPricePercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Redemption price percentage</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentRestrictiveCovenants" xlink:label="us-gaap_DebtInstrumentRestrictiveCovenants"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentRestrictiveCovenants_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Restrictive Covenants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentRestrictiveCovenants" xlink:to="us-gaap_DebtInstrumentRestrictiveCovenants_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="us-gaap_DebtInstrumentTable"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-term Debt [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTable" xlink:to="us-gaap_DebtInstrumentTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentTerm" xlink:label="us-gaap_DebtInstrumentTerm"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentTerm_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTerm" xlink:to="us-gaap_DebtInstrumentTerm_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentTerm_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Repayment period</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:to="us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Deferred finance charges, net</label>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Deferred finance fees</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentUnamortizedDiscount" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscount"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Unamortized Discount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentUnamortizedDiscount" xlink:to="us-gaap_DebtInstrumentUnamortizedDiscount_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">8.00% 2019 Notes, Unamortized discount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount" xlink:label="us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Undrawn amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount" xlink:to="us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentUnusedBorrowingCapacityFee" xlink:label="us-gaap_DebtInstrumentUnusedBorrowingCapacityFee"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Unused Borrowing Capacity, Fee</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentUnusedBorrowingCapacityFee" xlink:to="us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Unused credit facilities, commitment fee</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:label="us-gaap_DebtLongtermAndShorttermCombinedAmount"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtLongtermAndShorttermCombinedAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Longterm And Shortterm Combined Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:to="us-gaap_DebtLongtermAndShorttermCombinedAmount_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtLongtermAndShorttermCombinedAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Long-term debt, including current portion</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtPolicyTextBlock" xlink:label="us-gaap_DebtPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Policy Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtPolicyTextBlock" xlink:to="us-gaap_DebtPolicyTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DebtPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Financing costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DecreaseInRestrictedCash" xlink:label="us-gaap_DecreaseInRestrictedCash"/>
    <label xlink:type="resource" xlink:label="us-gaap_DecreaseInRestrictedCash_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Decrease In Restricted Cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DecreaseInRestrictedCash" xlink:to="us-gaap_DecreaseInRestrictedCash_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DecreaseInRestrictedCash_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Decrease in restricted cash</label>
    <label xlink:type="resource" xlink:label="us-gaap_DecreaseInRestrictedCash_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Decrease in restricted cash</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DefaultLongtermDebtDescriptionOfViolationOrEventOfDefault" xlink:label="us-gaap_DefaultLongtermDebtDescriptionOfViolationOrEventOfDefault"/>
    <label xlink:type="resource" xlink:label="us-gaap_DefaultLongtermDebtDescriptionOfViolationOrEventOfDefault_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument, Debt Default, Description of Violation or Event of Default</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefaultLongtermDebtDescriptionOfViolationOrEventOfDefault" xlink:to="us-gaap_DefaultLongtermDebtDescriptionOfViolationOrEventOfDefault_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DeferredCostsCurrentAndNoncurrent" xlink:label="us-gaap_DeferredCostsCurrentAndNoncurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_DeferredCostsCurrentAndNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deferred Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredCostsCurrentAndNoncurrent" xlink:to="us-gaap_DeferredCostsCurrentAndNoncurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DeferredCostsCurrentAndNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Capital expenditures deferred</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DeferredFinanceCostsNet" xlink:label="us-gaap_DeferredFinanceCostsNet"/>
    <label xlink:type="resource" xlink:label="us-gaap_DeferredFinanceCostsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Issuance Costs, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredFinanceCostsNet" xlink:to="us-gaap_DeferredFinanceCostsNet_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DeferredFinanceCostsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Long term debt, Deferred finance fees</label>
    <label xlink:type="resource" xlink:label="us-gaap_DeferredFinanceCostsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Unamortized Deferred financing fees</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DeferredFinanceCostsNoncurrentNet" xlink:label="us-gaap_DeferredFinanceCostsNoncurrentNet"/>
    <label xlink:type="resource" xlink:label="us-gaap_DeferredFinanceCostsNoncurrentNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deferred finance charges, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredFinanceCostsNoncurrentNet" xlink:to="us-gaap_DeferredFinanceCostsNoncurrentNet_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DeferredRevenueCurrent" xlink:label="us-gaap_DeferredRevenueCurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_DeferredRevenueCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deferred revenue, current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueCurrent" xlink:to="us-gaap_DeferredRevenueCurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DeferredRevenueCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Deferred revenue</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DeferredRevenueNoncurrent" xlink:label="us-gaap_DeferredRevenueNoncurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_DeferredRevenueNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deferred revenue, non-current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueNoncurrent" xlink:to="us-gaap_DeferredRevenueNoncurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DeferredRevenueNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Deferred revenue</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DepreciableAssetsMember" xlink:label="us-gaap_DepreciableAssetsMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_DepreciableAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Depreciable Assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciableAssetsMember" xlink:to="us-gaap_DepreciableAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_Depreciation" xlink:label="us-gaap_Depreciation"/>
    <label xlink:type="resource" xlink:label="us-gaap_Depreciation_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Depreciation (Note 6)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Depreciation" xlink:to="us-gaap_Depreciation_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_Depreciation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Depreciation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeAssetNotionalAmount" xlink:label="us-gaap_DerivativeAssetNotionalAmount"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeAssetNotionalAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative asset, Notional amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeAssetNotionalAmount" xlink:to="us-gaap_DerivativeAssetNotionalAmount_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeAssetsNoncurrent" xlink:label="us-gaap_DerivativeAssetsNoncurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeAssetsNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Assets Noncurrent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeAssetsNoncurrent" xlink:to="us-gaap_DerivativeAssetsNoncurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeAssetsNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Derivative asset (Note 19)</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeAssets" xlink:label="us-gaap_DerivativeAssets"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeAssets" xlink:to="us-gaap_DerivativeAssets_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Derivative asset (Note 19)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeByNatureAxis" xlink:label="us-gaap_DerivativeByNatureAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeByNatureAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeByNatureAxis" xlink:to="us-gaap_DerivativeByNatureAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeContractTypeDomain" xlink:label="us-gaap_DerivativeContractTypeDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeContractTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Contract [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeContractTypeDomain" xlink:to="us-gaap_DerivativeContractTypeDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeDescriptionOfVariableRateBasis" xlink:label="us-gaap_DerivativeDescriptionOfVariableRateBasis"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeDescriptionOfVariableRateBasis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Variable rate basis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeDescriptionOfVariableRateBasis" xlink:to="us-gaap_DerivativeDescriptionOfVariableRateBasis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeFixedInterestRate" xlink:label="us-gaap_DerivativeFixedInterestRate"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeFixedInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fixed rate, per annum</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeFixedInterestRate" xlink:to="us-gaap_DerivativeFixedInterestRate_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeHigherFixedInterestRateRange" xlink:label="us-gaap_DerivativeHigherFixedInterestRateRange"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeHigherFixedInterestRateRange_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Higher Fixed Interest Rate Range</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeHigherFixedInterestRateRange" xlink:to="us-gaap_DerivativeHigherFixedInterestRateRange_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeHigherFixedInterestRateRange_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Derivative higher fixed interest rate range</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeInceptionDates" xlink:label="us-gaap_DerivativeInceptionDates"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeInceptionDates_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative, Inception Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInceptionDates" xlink:to="us-gaap_DerivativeInceptionDates_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeInceptionDates_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Inception date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeInstrumentRiskAxis" xlink:label="us-gaap_DerivativeInstrumentRiskAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentRiskAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Instrument [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentRiskAxis" xlink:to="us-gaap_DerivativeInstrumentRiskAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeInstrumentsAndHedgesLiabilities" xlink:label="us-gaap_DerivativeInstrumentsAndHedgesLiabilities"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentsAndHedgesLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative instruments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsAndHedgesLiabilities" xlink:to="us-gaap_DerivativeInstrumentsAndHedgesLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeInstrumentsAndHedgesNoncurrent" xlink:label="us-gaap_DerivativeInstrumentsAndHedgesNoncurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentsAndHedgesNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative instruments, non-current (Note 16)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsAndHedgesNoncurrent" xlink:to="us-gaap_DerivativeInstrumentsAndHedgesNoncurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeInstrumentsAndHedges" xlink:label="us-gaap_DerivativeInstrumentsAndHedges"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentsAndHedges_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative instruments (Note 16)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsAndHedges" xlink:to="us-gaap_DerivativeInstrumentsAndHedges_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:label="us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:to="us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred" xlink:label="us-gaap_DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred" xlink:to="us-gaap_DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Amount expected to be reclassified into earnings</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet" xlink:label="us-gaap_DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet" xlink:to="us-gaap_DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Unrealized gain from hedging interest rate swaps, net</label>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Unrealized loss from hedging interest rate swaps, net</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeInstrumentsLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortion" xlink:label="us-gaap_DerivativeInstrumentsLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortion"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentsLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortion_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other Comprehensive Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortion" xlink:to="us-gaap_DerivativeInstrumentsLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortion_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue" xlink:label="us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue" xlink:to="us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Derivative financial liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeLiabilitiesCurrent" xlink:label="us-gaap_DerivativeLiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilitiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Liabilities Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeLiabilitiesCurrent" xlink:to="us-gaap_DerivativeLiabilitiesCurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilitiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Derivative liability, current (Note 14)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeLiabilitiesNoncurrent" xlink:label="us-gaap_DerivativeLiabilitiesNoncurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilitiesNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Liabilities Noncurrent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeLiabilitiesNoncurrent" xlink:to="us-gaap_DerivativeLiabilitiesNoncurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilitiesNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interest rate swaps - liability position</label>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilitiesNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Derivative liability, non current (Note 14)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeLiabilities" xlink:label="us-gaap_DerivativeLiabilities"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeLiabilities" xlink:to="us-gaap_DerivativeLiabilities_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeLiabilityNotionalAmount" xlink:label="us-gaap_DerivativeLiabilityNotionalAmount"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilityNotionalAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Liability, Notional Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeLiabilityNotionalAmount" xlink:to="us-gaap_DerivativeLiabilityNotionalAmount_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilityNotionalAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Derivative liability, notional amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeLineItems" xlink:label="us-gaap_DerivativeLineItems"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeLineItems" xlink:to="us-gaap_DerivativeLineItems_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Derivative</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeLowerFixedInterestRateRange" xlink:label="us-gaap_DerivativeLowerFixedInterestRateRange"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeLowerFixedInterestRateRange_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative lower fixed Interest Rate Range</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeLowerFixedInterestRateRange" xlink:to="us-gaap_DerivativeLowerFixedInterestRateRange_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeLowerFixedInterestRateRange_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Derivative lower fixed interest rate range</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeMaturityDates" xlink:label="us-gaap_DerivativeMaturityDates"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeMaturityDates_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Maturity Dates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeMaturityDates" xlink:to="us-gaap_DerivativeMaturityDates_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeMaturityDates_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Maturity date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeMember" xlink:label="us-gaap_DerivativeMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeMember" xlink:to="us-gaap_DerivativeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeNameDomain" xlink:label="us-gaap_DerivativeNameDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeNameDomain" xlink:to="us-gaap_DerivativeNameDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativeTable" xlink:label="us-gaap_DerivativeTable"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativeTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeTable" xlink:to="us-gaap_DerivativeTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DerivativesPolicyTextBlock" xlink:label="us-gaap_DerivativesPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativesPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivatives Policy [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativesPolicyTextBlock" xlink:to="us-gaap_DerivativesPolicyTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DerivativesPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Derivatives</label>
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    <label xlink:type="resource" xlink:label="us-gaap_DescriptionOfLesseeLeasingArrangementsCapitalLeases_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Description of Lessee Leasing Arrangements, Capital Leases</label>
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    <label xlink:type="resource" xlink:label="us-gaap_DescriptionOfLesseeLeasingArrangementsCapitalLeases_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Description of Capital leases, Term of contract</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DescriptionOfLocationOfGainLossOnInterestRateDerivativeOnIncomeStatement" xlink:label="us-gaap_DescriptionOfLocationOfGainLossOnInterestRateDerivativeOnIncomeStatement"/>
    <label xlink:type="resource" xlink:label="us-gaap_DescriptionOfLocationOfGainLossOnInterestRateDerivativeOnIncomeStatement_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Description of Location of Gain (Loss) on Interest Rate Derivative on Income Statement</label>
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    <label xlink:type="resource" xlink:label="us-gaap_DescriptionOfLocationOfGainLossOnInterestRateDerivativeOnIncomeStatement_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Reporting location on Income Statement</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DesignatedAsHedgingInstrumentMember" xlink:label="us-gaap_DesignatedAsHedgingInstrumentMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_DesignatedAsHedgingInstrumentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Designated As Hedging Instrument [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DesignatedAsHedgingInstrumentMember" xlink:to="us-gaap_DesignatedAsHedgingInstrumentMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DesignatedAsHedgingInstrumentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Designated as cash flow hedges</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DilutiveSecuritiesAbstract" xlink:label="us-gaap_DilutiveSecuritiesAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_DilutiveSecuritiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Dilutive Securities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DilutiveSecuritiesAbstract" xlink:to="us-gaap_DilutiveSecuritiesAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DilutiveSecuritiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Effect of dilutive securities:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DirectOperatingMaintenanceSuppliesCosts" xlink:label="us-gaap_DirectOperatingMaintenanceSuppliesCosts"/>
    <label xlink:type="resource" xlink:label="us-gaap_DirectOperatingMaintenanceSuppliesCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Direct Operating Maintenance Supplies Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DirectOperatingMaintenanceSuppliesCosts" xlink:to="us-gaap_DirectOperatingMaintenanceSuppliesCosts_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DirectOperatingMaintenanceSuppliesCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Maintenance, repairs, spares and stores</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Incentive Plan text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:to="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Equity Incentive Plans:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Incentive Plans [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:to="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock" xlink:label="us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of non-vested shares and weighted average grant date fair value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock" xlink:to="us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DisposalDate1" xlink:label="us-gaap_DisposalDate1"/>
    <label xlink:type="resource" xlink:label="us-gaap_DisposalDate1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Disposal Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalDate1" xlink:to="us-gaap_DisposalDate1_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DisposalDate1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Disposal date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration"/>
    <label xlink:type="resource" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Disposal Group, Including Discontinued Operation, Consideration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration" xlink:to="us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Contracted sale price</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown" xlink:label="us-gaap_DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown"/>
    <label xlink:type="resource" xlink:label="us-gaap_DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Disposal Group, Not Discontinued Operation, Loss (Gain) on Write-down</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown" xlink:to="us-gaap_DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Disposal group, Impairment loss, Write down to fair value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DividendsCommonStock" xlink:label="us-gaap_DividendsCommonStock"/>
    <label xlink:type="resource" xlink:label="us-gaap_DividendsCommonStock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Dividends declared and paid ($0.675 per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsCommonStock" xlink:to="us-gaap_DividendsCommonStock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DividendsCommonStock_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Dividends declared and paid ($3.0 per share in 2011 &amp; $0.675 per share in 2012)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DividendsPayableAmountPerShare" xlink:label="us-gaap_DividendsPayableAmountPerShare"/>
    <label xlink:type="resource" xlink:label="us-gaap_DividendsPayableAmountPerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Dividend declared, per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPayableAmountPerShare" xlink:to="us-gaap_DividendsPayableAmountPerShare_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DividendsPreferredStockCash" xlink:label="us-gaap_DividendsPreferredStockCash"/>
    <label xlink:type="resource" xlink:label="us-gaap_DividendsPreferredStockCash_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Dividends paid to nonvested shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPreferredStockCash" xlink:to="us-gaap_DividendsPreferredStockCash_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DueFromRelatedPartiesCurrentAbstract" xlink:label="us-gaap_DueFromRelatedPartiesCurrentAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_DueFromRelatedPartiesCurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Due From Related Parties Current [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueFromRelatedPartiesCurrentAbstract" xlink:to="us-gaap_DueFromRelatedPartiesCurrentAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DueFromRelatedPartiesCurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DueFromRelatedPartiesCurrent" xlink:label="us-gaap_DueFromRelatedPartiesCurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_DueFromRelatedPartiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Due from related parties (Note 3)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueFromRelatedPartiesCurrent" xlink:to="us-gaap_DueFromRelatedPartiesCurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DueFromRelatedPartiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Due from related parties</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DueToOfficersOrStockholdersCurrent" xlink:label="us-gaap_DueToOfficersOrStockholdersCurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_DueToOfficersOrStockholdersCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Outstanding balance - unpaid fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueToOfficersOrStockholdersCurrent" xlink:to="us-gaap_DueToOfficersOrStockholdersCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DueToRelatedPartiesCurrentAbstract" xlink:label="us-gaap_DueToRelatedPartiesCurrentAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_DueToRelatedPartiesCurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Due To Related Parties Current [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueToRelatedPartiesCurrentAbstract" xlink:to="us-gaap_DueToRelatedPartiesCurrentAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DueToRelatedPartiesCurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DueToRelatedPartiesCurrent" xlink:label="us-gaap_DueToRelatedPartiesCurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_DueToRelatedPartiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Due to related parties (Note 3)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueToRelatedPartiesCurrent" xlink:to="us-gaap_DueToRelatedPartiesCurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_DueToRelatedPartiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Due to related parties</label>
    <label xlink:type="resource" xlink:label="us-gaap_DueToRelatedPartiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Outstanding balance</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="us-gaap_EarningsPerShareAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Earnings / (Loss) per Share [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EarningsPerShareBasicAbstract" xlink:label="us-gaap_EarningsPerShareBasicAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasicAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Earnings Per Share Basic [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasicAbstract" xlink:to="us-gaap_EarningsPerShareBasicAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasicAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Basic earnings / (loss) per share:</label>
    <label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasicAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Basic (loss) / earnings per share:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EarningsPerShareBasicAndDiluted" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted"/>
    <label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Earnings Per Share Basic And Diluted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasicAndDiluted" xlink:to="us-gaap_EarningsPerShareBasicAndDiluted_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Earnings / (Loss) per share, basic and diluted (Note 11)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EarningsPerShareBasicOtherDisclosuresAbstract" xlink:label="us-gaap_EarningsPerShareBasicOtherDisclosuresAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasicOtherDisclosuresAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Earnings Per Share Basic Other Disclosures [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasicOtherDisclosuresAbstract" xlink:to="us-gaap_EarningsPerShareBasicOtherDisclosuresAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasicOtherDisclosuresAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Earnings per Share</label>
    <label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasicOtherDisclosuresAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Earnings / (loss) per share</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="us-gaap_EarningsPerShareBasic"/>
    <label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xml:lang="en-US">Basic earnings per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasic" xlink:to="us-gaap_EarningsPerShareBasic_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Earnings/(loss) per share, basic (Note 14)</label>
    <label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Basic earnings / (loss) per share</label>
    <label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Basic (loss) / earnings per share</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EarningsPerShareDilutedAbstract" xlink:label="us-gaap_EarningsPerShareDilutedAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareDilutedAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Earnings Per Share Diluted [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareDilutedAbstract" xlink:to="us-gaap_EarningsPerShareDilutedAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareDilutedAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Effect of dilutive securities:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="us-gaap_EarningsPerShareDiluted"/>
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    <label xlink:type="resource" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Earnings Per Share Policy Text Block</label>
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    <label xlink:type="resource" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Earnings/ (loss) per share</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EarningsPerShareTextBlock" xlink:label="us-gaap_EarningsPerShareTextBlock"/>
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    <label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Earnings / (Loss) per Share:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EffectOfCashFlowHedgesOnResultsOfOperationsAbstract" xlink:label="us-gaap_EffectOfCashFlowHedgesOnResultsOfOperationsAbstract"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedAbstract" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized [Abstract]</label>
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    <label xlink:type="resource" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Weighted average remaining term</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1"/>
    <label xlink:type="resource" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:to="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Weighted average remaining term for non-vested restricted share awards</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions"/>
    <label xlink:type="resource" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions" xlink:to="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Total unrecognised compensation cost relating to restricted share awards</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions"/>
    <label xlink:type="resource" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions" xlink:to="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Total unrecognised compensation cost relating to non-vested share option</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized"/>
    <label xlink:type="resource" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unrecognized compensation cost related to share-based compensation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:to="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Total unrecognized compensation cost</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EmployeeStockOptionMember" xlink:label="us-gaap_EmployeeStockOptionMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_EmployeeStockOptionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Employee Stock Option [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeStockOptionMember" xlink:to="us-gaap_EmployeeStockOptionMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_EmployeeStockOptionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Employee Stock Option</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EnvironmentalRemediationObligationsAbstract" xlink:label="us-gaap_EnvironmentalRemediationObligationsAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_EnvironmentalRemediationObligationsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Environmental Remediation Obligations [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EnvironmentalRemediationObligationsAbstract" xlink:to="us-gaap_EnvironmentalRemediationObligationsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="us-gaap_EquityComponentDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_EquityComponentDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Component [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_EquityComponentDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EquityIssuancePerShareAmount" xlink:label="us-gaap_EquityIssuancePerShareAmount"/>
    <label xlink:type="resource" xlink:label="us-gaap_EquityIssuancePerShareAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Public offering price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityIssuancePerShareAmount" xlink:to="us-gaap_EquityIssuancePerShareAmount_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EquityMethodInvesteeMember" xlink:label="us-gaap_EquityMethodInvesteeMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_EquityMethodInvesteeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Method Investee [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvesteeMember" xlink:to="us-gaap_EquityMethodInvesteeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage"/>
    <label xlink:type="resource" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Method Investment Ownership Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:to="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Percentage of ownership in Interchart acquired</label>
    <label xlink:type="resource" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Ownership percentage</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EquityMethodInvestmentsPolicy" xlink:label="us-gaap_EquityMethodInvestmentsPolicy"/>
    <label xlink:type="resource" xlink:label="us-gaap_EquityMethodInvestmentsPolicy_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Method Investments [Policy]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvestmentsPolicy" xlink:to="us-gaap_EquityMethodInvestmentsPolicy_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_EquityMethodInvestmentsPolicy_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Equity method investments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EscrowDeposit" xlink:label="us-gaap_EscrowDeposit"/>
    <label xlink:type="resource" xlink:label="us-gaap_EscrowDeposit_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Escrow Deposit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EscrowDeposit" xlink:to="us-gaap_EscrowDeposit_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_EscrowDeposit_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Cash collateral to guarantee the payment of fines</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ExecutiveOfficerMember" xlink:label="us-gaap_ExecutiveOfficerMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_ExecutiveOfficerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Executive Officer [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ExecutiveOfficerMember" xlink:to="us-gaap_ExecutiveOfficerMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ExecutiveOfficerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Executive directors</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems"/>
    <label xlink:type="resource" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Measurements [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueAssetsLevel1ToLevel2TransfersAmount" xlink:label="us-gaap_FairValueAssetsLevel1ToLevel2TransfersAmount"/>
    <label xlink:type="resource" xlink:label="us-gaap_FairValueAssetsLevel1ToLevel2TransfersAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Dummy value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsLevel1ToLevel2TransfersAmount" xlink:to="us-gaap_FairValueAssetsLevel1ToLevel2TransfersAmount_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock" xlink:label="us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Measurements, Nonrecurring [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock" xlink:to="us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock_lbl"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Hierarchy Level [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:to="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl"/>
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    <label xlink:type="resource" xlink:label="us-gaap_FairValueByMeasurementBasisAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Measurement Basis [Axis]</label>
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    <label xlink:type="resource" xlink:label="us-gaap_FairValueDisclosuresTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fair value measurements:</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel1Member" xlink:to="us-gaap_FairValueInputsLevel1Member_lbl"/>
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    <label xlink:type="resource" xlink:label="us-gaap_FairValueInputsLevel2Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Inputs Level 2 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel2Member" xlink:to="us-gaap_FairValueInputsLevel2Member_lbl"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="us-gaap_FairValueInputsLevel3Member"/>
    <label xlink:type="resource" xlink:label="us-gaap_FairValueInputsLevel3Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Inputs Level 3 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel3Member" xlink:to="us-gaap_FairValueInputsLevel3Member_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FairValueInputsLevel3Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Significant Unobservable Inputs (Level 3)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock" xlink:label="us-gaap_FairValueLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_FairValueLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Liabilities Measured On Recurring And Nonrecurring Basis Table Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock" xlink:to="us-gaap_FairValueLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FairValueLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fair value measurements</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueMeasurementFrequencyDomain" xlink:label="us-gaap_FairValueMeasurementFrequencyDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementFrequencyDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value, Measurement Frequency [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementFrequencyDomain" xlink:to="us-gaap_FairValueMeasurementFrequencyDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Hierarchy [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:to="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueMeasurementsNonrecurringMember" xlink:label="us-gaap_FairValueMeasurementsNonrecurringMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementsNonrecurringMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value, Measurements, Nonrecurring [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementsNonrecurringMember" xlink:to="us-gaap_FairValueMeasurementsNonrecurringMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementsNonrecurringMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fair Value, Measurements, Nonrecurring</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueMeasurementsSensitivityAnalysisDescription" xlink:label="us-gaap_FairValueMeasurementsSensitivityAnalysisDescription"/>
    <label xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementsSensitivityAnalysisDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Measurements Sensitivity Analysis Description</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementsSensitivityAnalysisDescription" xlink:to="us-gaap_FairValueMeasurementsSensitivityAnalysisDescription_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementsSensitivityAnalysisDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Sensitivity analysis description</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueOfAssetsAcquired" xlink:label="us-gaap_FairValueOfAssetsAcquired"/>
    <label xlink:type="resource" xlink:label="us-gaap_FairValueOfAssetsAcquired_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Of Assets Acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueOfAssetsAcquired" xlink:to="us-gaap_FairValueOfAssetsAcquired_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FairValueOfAssetsAcquired_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fair value of vessels acquired</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:label="us-gaap_FairValueOfFinancialInstrumentsPolicy"/>
    <label xlink:type="resource" xlink:label="us-gaap_FairValueOfFinancialInstrumentsPolicy_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Of Financial Instruments Policy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:to="us-gaap_FairValueOfFinancialInstrumentsPolicy_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FairValueOfFinancialInstrumentsPolicy_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fair value measurements</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FeaturesOfConvertiblePreferredStockAbstract" xlink:label="us-gaap_FeaturesOfConvertiblePreferredStockAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_FeaturesOfConvertiblePreferredStockAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Features Of ConvertiblePreferredStockAbstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FeaturesOfConvertiblePreferredStockAbstract" xlink:to="us-gaap_FeaturesOfConvertiblePreferredStockAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FeesAndCommissionsAbstract" xlink:label="us-gaap_FeesAndCommissionsAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_FeesAndCommissionsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Management fees [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FeesAndCommissionsAbstract" xlink:to="us-gaap_FeesAndCommissionsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FinancialInstrumentAxis" xlink:label="us-gaap_FinancialInstrumentAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_FinancialInstrumentAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Financial Instrument [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentAxis" xlink:to="us-gaap_FinancialInstrumentAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs" xlink:label="us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs"/>
    <label xlink:type="resource" xlink:label="us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Financing Receivable, Allowance for Credit Losses, Write-downs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs" xlink:to="us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Write off, Loan receivable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FinancingReceivablesImpairedTroubledDebtRestructuringWriteDown" xlink:label="us-gaap_FinancingReceivablesImpairedTroubledDebtRestructuringWriteDown"/>
    <label xlink:type="resource" xlink:label="us-gaap_FinancingReceivablesImpairedTroubledDebtRestructuringWriteDown_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivablesImpairedTroubledDebtRestructuringWriteDown" xlink:to="us-gaap_FinancingReceivablesImpairedTroubledDebtRestructuringWriteDown_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FinancingReceivablesImpairedTroubledDebtRestructuringWriteDown_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Write off, Loan receivable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite Lived Intangible Assets Accumulated Amortization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Accumulated amortization of above market time charters</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite-Lived Intangible Assets, Amortization Expense, Next Rolling Twelve Months</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">June 30, 2017</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">December 31, 2016</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite Lived Intangible Assets Amortization Expense Rolling Year Four</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">December 31, 2016</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite Lived Intangible Assets Amortization Expense Rolling Year Three</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">June 30,2017</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite Lived Intangible Assets Amortization Expense Rolling Year Two</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">June 30, 2017</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite-Lived Intangible Assets, Amortization Expense, Year Two</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">December 31, 2017</label>
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    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite-Lived Intangible Assets by Major Class [Axis]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract" xlink:label="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract" xlink:to="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Twelve months periods ending</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross" xlink:label="us-gaap_FiniteLivedIntangibleAssetsGross"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsGross_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite-Lived Intangible Assets, Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsGross" xlink:to="us-gaap_FiniteLivedIntangibleAssetsGross_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsGross_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Above market time charters</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite-Lived Intangible Assets, Major Class Name [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:to="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNetAbstract" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNetAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNetAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite Lived Intangible Assets Net [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNetAbstract" xlink:to="us-gaap_FiniteLivedIntangibleAssetsNetAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNetAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fair value of above market acquired time charter</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNetAmortizationExpenseRollingMaturityAbstract" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNetAmortizationExpenseRollingMaturityAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNetAmortizationExpenseRollingMaturityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite-Lived Intangible Assets, Net, Amortization Expense, Rolling Maturity [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNetAmortizationExpenseRollingMaturityAbstract" xlink:to="us-gaap_FiniteLivedIntangibleAssetsNetAmortizationExpenseRollingMaturityAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNetAmortizationExpenseRollingMaturityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Twelve month periods ending</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite-Lived Intangible Assets, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="us-gaap_FiniteLivedIntangibleAssetsNet_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fair value of above market acquired time charter (Note 7)</label>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total</label>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair value of above market acquired time charter</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1" xlink:label="us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite-Lived Intangible Assets, Remaining Amortization Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1" xlink:to="us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Amortization weighted-average remaining period</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FinitelivedIntangibleAssetsAcquired1" xlink:label="us-gaap_FinitelivedIntangibleAssetsAcquired1"/>
    <label xlink:type="resource" xlink:label="us-gaap_FinitelivedIntangibleAssetsAcquired1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite-lived Intangible Assets Acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinitelivedIntangibleAssetsAcquired1" xlink:to="us-gaap_FinitelivedIntangibleAssetsAcquired1_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FinitelivedIntangibleAssetsAcquired1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Above market time charters acquired</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ForeignCurrencyExchangeRateTranslation1" xlink:label="us-gaap_ForeignCurrencyExchangeRateTranslation1"/>
    <label xlink:type="resource" xlink:label="us-gaap_ForeignCurrencyExchangeRateTranslation1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Foreign Currency Exchange Rate, Translation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyExchangeRateTranslation1" xlink:to="us-gaap_ForeignCurrencyExchangeRateTranslation1_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ForeignCurrencyExchangeRateTranslation1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Exchange rate EUR/USD</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:label="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Foreign Currency Transactions And Translations Policy Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:to="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Foreign currency transactions</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FuelCosts" xlink:label="us-gaap_FuelCosts"/>
    <label xlink:type="resource" xlink:label="us-gaap_FuelCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fuel Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FuelCosts" xlink:to="us-gaap_FuelCosts_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_FuelCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Bunkers</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_GainContingenciesByNatureAxis" xlink:label="us-gaap_GainContingenciesByNatureAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_GainContingenciesByNatureAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain Contingencies, Nature [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainContingenciesByNatureAxis" xlink:to="us-gaap_GainContingenciesByNatureAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_GainContingenciesLineItems" xlink:label="us-gaap_GainContingenciesLineItems"/>
    <label xlink:type="resource" xlink:label="us-gaap_GainContingenciesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain Contingencies [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainContingenciesLineItems" xlink:to="us-gaap_GainContingenciesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_GainContingenciesTable" xlink:label="us-gaap_GainContingenciesTable"/>
    <label xlink:type="resource" xlink:label="us-gaap_GainContingenciesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain Contingencies [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainContingenciesTable" xlink:to="us-gaap_GainContingenciesTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_GainContingencyIncomeStatementCaption" xlink:label="us-gaap_GainContingencyIncomeStatementCaption"/>
    <label xlink:type="resource" xlink:label="us-gaap_GainContingencyIncomeStatementCaption_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain Contingency, Income Statement Caption</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainContingencyIncomeStatementCaption" xlink:to="us-gaap_GainContingencyIncomeStatementCaption_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_GainContingencyIncomeStatementCaption_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Location in income statement</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_GainContingencyNatureDomain" xlink:label="us-gaap_GainContingencyNatureDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_GainContingencyNatureDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain Contingency, Nature [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainContingencyNatureDomain" xlink:to="us-gaap_GainContingencyNatureDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_GainContingencyUnrecordedAmount" xlink:label="us-gaap_GainContingencyUnrecordedAmount"/>
    <label xlink:type="resource" xlink:label="us-gaap_GainContingencyUnrecordedAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain Contingency, Unrecorded Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainContingencyUnrecordedAmount" xlink:to="us-gaap_GainContingencyUnrecordedAmount_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_GainLossFromPriceRiskManagementActivity" xlink:label="us-gaap_GainLossFromPriceRiskManagementActivity"/>
    <label xlink:type="resource" xlink:label="us-gaap_GainLossFromPriceRiskManagementActivity_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss / (gain) on derivative instruments from risk management</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_GainLossOnContractTermination" xlink:label="us-gaap_GainLossOnContractTermination"/>
    <label xlink:type="resource" xlink:label="us-gaap_GainLossOnContractTermination_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss/(gain) on time charter agreement termination</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnContractTermination" xlink:to="us-gaap_GainLossOnContractTermination_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_GainLossOnContractTermination_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Loss on time charter agreement termination</label>
    <label xlink:type="resource" xlink:label="us-gaap_GainLossOnContractTermination_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Gain / (loss) on time charter agreement termination</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_GainLossOnDerivativeInstrumentsNetPretax" xlink:label="us-gaap_GainLossOnDerivativeInstrumentsNetPretax"/>
    <label xlink:type="resource" xlink:label="us-gaap_GainLossOnDerivativeInstrumentsNetPretax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain / (Loss) on derivative financial instrument, net (Note 14)</label>
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    <label xlink:type="resource" xlink:label="us-gaap_GainLossOnDerivativeInstrumentsNetPretax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Gain/ (loss) on interest rate swaps</label>
    <label xlink:type="resource" xlink:label="us-gaap_GainLossOnDerivativeInstrumentsNetPretax_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total Gain/(Loss) on derivative instruments, net</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_GainLossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurringNet" xlink:label="us-gaap_GainLossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurringNet"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_GainLossOnInterestRateCashFlowHedgeIneffectiveness" xlink:label="us-gaap_GainLossOnInterestRateCashFlowHedgeIneffectiveness"/>
    <label xlink:type="resource" xlink:label="us-gaap_GainLossOnInterestRateCashFlowHedgeIneffectiveness_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Ineffective portion of cash flow hedges</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments" xlink:label="us-gaap_GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments"/>
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    <label xlink:type="resource" xlink:label="us-gaap_GeneralInsuranceExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">General Insurance Expense</label>
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    <label xlink:type="resource" xlink:label="us-gaap_HedgingDesignationAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Hedging Designation [Axis]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract" xlink:label="us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Increase (Decrease) in Operating Liabilities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Increase/(Decrease) in:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncreaseDecreaseInOtherAccountsPayable" xlink:label="us-gaap_IncreaseDecreaseInOtherAccountsPayable"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncreaseDecreaseInOtherReceivables" xlink:label="us-gaap_IncreaseDecreaseInOtherReceivables"/>
    <label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInOtherReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Increase Decrease In Other Receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOtherReceivables" xlink:to="us-gaap_IncreaseDecreaseInOtherReceivables_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInOtherReceivables_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Due from managers</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets"/>
    <label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Increase Decrease In Prepaid Deferred Expense And Other Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:to="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Prepaid expenses and other receivables</label>
    <label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xml:lang="en-US">Prepaid expenses and other current assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncreaseInRestrictedCash" xlink:label="us-gaap_IncreaseInRestrictedCash"/>
    <label xlink:type="resource" xlink:label="us-gaap_IncreaseInRestrictedCash_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Increase In Restricted Cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseInRestrictedCash" xlink:to="us-gaap_IncreaseInRestrictedCash_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_IncreaseInRestrictedCash_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Increase in restricted cash</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:label="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements"/>
    <label xlink:type="resource" xlink:label="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Dilutive effect of Warrants and non-vested shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:to="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InformationByCategoryOfDebtSecurityAxis" xlink:label="us-gaap_InformationByCategoryOfDebtSecurityAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_InformationByCategoryOfDebtSecurityAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Information By Category Of Debt Security [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InformationByCategoryOfDebtSecurityAxis" xlink:to="us-gaap_InformationByCategoryOfDebtSecurityAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InsuranceRecoveries" xlink:label="us-gaap_InsuranceRecoveries"/>
    <label xlink:type="resource" xlink:label="us-gaap_InsuranceRecoveries_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Insurance Recoveries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InsuranceRecoveries" xlink:to="us-gaap_InsuranceRecoveries_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_InsuranceRecoveries_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Gain from insurance claim</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InsuranceSettlementMember" xlink:label="us-gaap_InsuranceSettlementMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_InsuranceSettlementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Insurance Settlement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InsuranceSettlementMember" xlink:to="us-gaap_InsuranceSettlementMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IntangibleAssetsFiniteLivedPolicy" xlink:label="us-gaap_IntangibleAssetsFiniteLivedPolicy"/>
    <label xlink:type="resource" xlink:label="us-gaap_IntangibleAssetsFiniteLivedPolicy_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Intangible Assets Finite Lived Policy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IntangibleAssetsFiniteLivedPolicy" xlink:to="us-gaap_IntangibleAssetsFiniteLivedPolicy_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_IntangibleAssetsFiniteLivedPolicy_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fair value of above/below market acquired time charter</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InterestAndDebtExpenseAbstract" xlink:label="us-gaap_InterestAndDebtExpenseAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestAndDebtExpenseAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest And Debt Expense [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestAndDebtExpenseAbstract" xlink:to="us-gaap_InterestAndDebtExpenseAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestAndDebtExpenseAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interest and finance costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InterestAndDebtExpense" xlink:label="us-gaap_InterestAndDebtExpense"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestAndDebtExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest And Debt Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestAndDebtExpense" xlink:to="us-gaap_InterestAndDebtExpense_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestAndDebtExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Interest and finance costs</label>
    <label xlink:type="resource" xlink:label="us-gaap_InterestAndDebtExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Interest and finance costs (Note 8)</label>
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    <label xlink:type="resource" xlink:label="us-gaap_InterestAndOtherIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest and other income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestAndOtherIncome" xlink:to="us-gaap_InterestAndOtherIncome_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestAndOtherIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interest and other income/(loss)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InterestCostsCapitalized" xlink:label="us-gaap_InterestCostsCapitalized"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestCostsCapitalized_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xml:lang="en-US">Less: Interest capitalized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestCostsCapitalized" xlink:to="us-gaap_InterestCostsCapitalized_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestCostsCapitalized_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Costs Capitalized</label>
    <label xlink:type="resource" xlink:label="us-gaap_InterestCostsCapitalized_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Capitalized interest</label>
    <label xlink:type="resource" xlink:label="us-gaap_InterestCostsCapitalized_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Capitalized interest and finance costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InterestExpenseLesseeAssetsUnderCapitalLease" xlink:label="us-gaap_InterestExpenseLesseeAssetsUnderCapitalLease"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestExpenseLesseeAssetsUnderCapitalLease_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Expense, Lessee, Assets under Capital Lease</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseLesseeAssetsUnderCapitalLease" xlink:to="us-gaap_InterestExpenseLesseeAssetsUnderCapitalLease_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestExpenseLesseeAssetsUnderCapitalLease_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interest and finance costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InterestExpenseLongTermDebt" xlink:label="us-gaap_InterestExpenseLongTermDebt"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestExpenseLongTermDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseLongTermDebt" xlink:to="us-gaap_InterestExpenseLongTermDebt_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestExpenseLongTermDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interest on long term debt</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InterestExpenseOther" xlink:label="us-gaap_InterestExpenseOther"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestExpenseOther_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other financing fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseOther" xlink:to="us-gaap_InterestExpenseOther_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InterestExpenseRelatedParty" xlink:label="us-gaap_InterestExpenseRelatedParty"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestExpenseRelatedParty_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Expense Related Party</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseRelatedParty" xlink:to="us-gaap_InterestExpenseRelatedParty_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestExpenseRelatedParty_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interest and finance costs to Bridge Facility from related parties (Note 9)</label>
    <label xlink:type="resource" xlink:label="us-gaap_InterestExpenseRelatedParty_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Less: Interest and finance costs to Bridge Facility from related parties presented separately in the statement of operations</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InterestExpense" xlink:label="us-gaap_InterestExpense"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpense" xlink:to="us-gaap_InterestExpense_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interest expense</label>
    <label xlink:type="resource" xlink:label="us-gaap_InterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest on long term debt and capital leases</label>
    <label xlink:type="resource" xlink:label="us-gaap_InterestExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Interest expense</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock" xlink:label="us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Income And Interest Expense Disclosure [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interest and finance costs</label>
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    <label xlink:type="resource" xlink:label="us-gaap_InterestPaidCapitalized_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capitalized Interest</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InterestPaidNet" xlink:label="us-gaap_InterestPaidNet"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestPaidNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest, net of amount capitalized</label>
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    <label xlink:type="resource" xlink:label="us-gaap_InterestPaidNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interest</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet" xlink:label="us-gaap_InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net</label>
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    <label xlink:type="resource" xlink:label="us-gaap_InterestRateDerivativeAssetsAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interest rate swaps - asset position</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InterestRateDerivativeLiabilitiesAtFairValue" xlink:label="us-gaap_InterestRateDerivativeLiabilitiesAtFairValue"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestRateDerivativeLiabilitiesAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Rate Derivative Liabilities, at Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestRateDerivativeLiabilitiesAtFairValue" xlink:to="us-gaap_InterestRateDerivativeLiabilitiesAtFairValue_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestRateDerivativeLiabilitiesAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interest rate swaps - liability position</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InterestRateSwapMember" xlink:label="us-gaap_InterestRateSwapMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestRateSwapMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Rate Swap [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestRateSwapMember" xlink:to="us-gaap_InterestRateSwapMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_InterestRateSwapMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interest rate swap</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InventoryDisclosureAbstract" xlink:label="us-gaap_InventoryDisclosureAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_InventoryDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Inventories [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryDisclosureAbstract" xlink:to="us-gaap_InventoryDisclosureAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InventoryDisclosureTextBlock" xlink:label="us-gaap_InventoryDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_InventoryDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Inventories Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryDisclosureTextBlock" xlink:to="us-gaap_InventoryDisclosureTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_InventoryDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Inventories:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InventoryNet" xlink:label="us-gaap_InventoryNet"/>
    <label xlink:type="resource" xlink:label="us-gaap_InventoryNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Inventories (Note 4)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryNet" xlink:to="us-gaap_InventoryNet_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_InventoryNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Inventories</label>
    <label xlink:type="resource" xlink:label="us-gaap_InventoryNet_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InventoryPolicyTextBlock" xlink:label="us-gaap_InventoryPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_InventoryPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Inventory Policy Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryPolicyTextBlock" xlink:to="us-gaap_InventoryPolicyTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_InventoryPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Inventories</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LeaseAgreementsMember" xlink:label="us-gaap_LeaseAgreementsMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_LeaseAgreementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Lease Agreements [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseAgreementsMember" xlink:to="us-gaap_LeaseAgreementsMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LeaseAgreementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">CSSC lease arrangement</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LeaseAndRentalExpense" xlink:label="us-gaap_LeaseAndRentalExpense"/>
    <label xlink:type="resource" xlink:label="us-gaap_LeaseAndRentalExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Rent expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseAndRentalExpense" xlink:to="us-gaap_LeaseAndRentalExpense_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LeaseAndRentalExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Charter-in hire expense</label>
    <label xlink:type="resource" xlink:label="us-gaap_LeaseAndRentalExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Office Rent - Combine Maritime Ltd. (c)</label>
    <label xlink:type="resource" xlink:label="us-gaap_LeaseAndRentalExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Office rent</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LeaseExpirationDate1" xlink:label="us-gaap_LeaseExpirationDate1"/>
    <label xlink:type="resource" xlink:label="us-gaap_LeaseExpirationDate1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Lease Expiration Date</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LeasePolicyTextBlock" xlink:label="us-gaap_LeasePolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_LeasePolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Lease Policy [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeasePolicyTextBlock" xlink:to="us-gaap_LeasePolicyTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LeasePolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Accounting for leases</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LeasesCapitalAbstract" xlink:label="us-gaap_LeasesCapitalAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_LeasesCapitalAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Leases Capital [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeasesCapitalAbstract" xlink:to="us-gaap_LeasesCapitalAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LeasesCapitalAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Capital leases</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LegalFees" xlink:label="us-gaap_LegalFees"/>
    <label xlink:type="resource" xlink:label="us-gaap_LegalFees_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Legal Fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LegalFees" xlink:to="us-gaap_LegalFees_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LegalMattersAndContingenciesTextBlock" xlink:label="us-gaap_LegalMattersAndContingenciesTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_LegalMattersAndContingenciesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Legal Matters And Contingencies [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LegalMattersAndContingenciesTextBlock" xlink:to="us-gaap_LegalMattersAndContingenciesTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LegalMattersAndContingenciesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Legal matters</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LesseeLeasingArrangementsOperatingLeasesRenewalTerm" xlink:label="us-gaap_LesseeLeasingArrangementsOperatingLeasesRenewalTerm"/>
    <label xlink:type="resource" xlink:label="us-gaap_LesseeLeasingArrangementsOperatingLeasesRenewalTerm_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Lessee Leasing Arrangements, Operating Leases, Renewal Term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeLeasingArrangementsOperatingLeasesRenewalTerm" xlink:to="us-gaap_LesseeLeasingArrangementsOperatingLeasesRenewalTerm_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LesseeLeasingArrangementsOperatingLeasesRenewalTerm_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Lease agreements, Office space, Renewal term</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LesseeLeasingArrangementsOperatingLeasesTermOfContract" xlink:label="us-gaap_LesseeLeasingArrangementsOperatingLeasesTermOfContract"/>
    <label xlink:type="resource" xlink:label="us-gaap_LesseeLeasingArrangementsOperatingLeasesTermOfContract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Lessee Leasing Arrangements, Operating Leases, Term of Contract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeLeasingArrangementsOperatingLeasesTermOfContract" xlink:to="us-gaap_LesseeLeasingArrangementsOperatingLeasesTermOfContract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LesseeLeasingArrangementsOperatingLeasesTermOfContract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Leasing arrangements, Term of time charter contract</label>
    <label xlink:type="resource" xlink:label="us-gaap_LesseeLeasingArrangementsOperatingLeasesTermOfContract_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Leasing agreements, Office space, Term of contract</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LiabilitiesAbstract" xlink:label="us-gaap_LiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_LiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Liabilities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAbstract" xlink:to="us-gaap_LiabilitiesAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Liabilities</label>
    <label xlink:type="resource" xlink:label="us-gaap_LiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">LIABILITIES</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Liabilities And Stockholders Equity [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">LIABILITIES &amp; STOCKHOLDERS' EQUITY</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity"/>
    <label xlink:type="resource" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="us-gaap_LiabilitiesCurrentAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Liabilities Current [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_LiabilitiesCurrentAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">CURRENT LIABILITIES</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="us-gaap_LiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_LiabilitiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_LiabilitiesCurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LiabilitiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total Current Liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LiabilitiesNoncurrentAbstract" xlink:label="us-gaap_LiabilitiesNoncurrentAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_LiabilitiesNoncurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Liabilities Noncurrent [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesNoncurrentAbstract" xlink:to="us-gaap_LiabilitiesNoncurrentAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LiabilitiesNoncurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">NON-CURRENT LIABILITIES</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LiabilitiesNoncurrent" xlink:label="us-gaap_LiabilitiesNoncurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_LiabilitiesNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total Non - Current Liablilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesNoncurrent" xlink:to="us-gaap_LiabilitiesNoncurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LiabilitiesNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total Non - Current Liablilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities"/>
    <label xlink:type="resource" xlink:label="us-gaap_Liabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">TOTAL LIABILITIES</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">TOTAL LIABILITIES</label>
    <label xlink:type="resource" xlink:label="us-gaap_Liabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Total liabilities acquired</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityAbstract" xlink:label="us-gaap_LineOfCreditFacilityAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Line of Credit Facility [Abstract]</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityAxis" xlink:label="us-gaap_LineOfCreditFacilityAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Lender Name [Axis]</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityCollateral" xlink:label="us-gaap_LineOfCreditFacilityCollateral"/>
    <label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityCollateral_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Line of Credit Facility, Collateral</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessels provided as collateral</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityCommitmentFeePercentage" xlink:label="us-gaap_LineOfCreditFacilityCommitmentFeePercentage"/>
    <label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityCommitmentFeePercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Line of Credit Facility, Commitment Fee Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityCommitmentFeePercentage" xlink:to="us-gaap_LineOfCreditFacilityCommitmentFeePercentage_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityCommitmentFeePercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Commitment fee percentage</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityCovenantCompliance" xlink:label="us-gaap_LineOfCreditFacilityCovenantCompliance"/>
    <label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityCovenantCompliance_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Line of Credit Facility, Covenant Compliance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityCovenantCompliance" xlink:to="us-gaap_LineOfCreditFacilityCovenantCompliance_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityCovenantTerms" xlink:label="us-gaap_LineOfCreditFacilityCovenantTerms"/>
    <label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityCovenantTerms_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Line of Credit Facility, Covenant Terms</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1" xlink:label="us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1"/>
    <label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Line of Credit Facility, Date of First Required Payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1" xlink:to="us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Date of first required payment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityDescription" xlink:label="us-gaap_LineOfCreditFacilityDescription"/>
    <label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Line Of Credit Facility Description</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Restructuring agreement description</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityDividendRestrictions" xlink:label="us-gaap_LineOfCreditFacilityDividendRestrictions"/>
    <label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityDividendRestrictions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Line of Credit Facility, Dividend Restrictions</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityExpirationDate1" xlink:label="us-gaap_LineOfCreditFacilityExpirationDate1"/>
    <label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityExpirationDate1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Line of Credit Facility, Expiration Date</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Expiration date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityFrequencyOfPaymentAndPaymentTerms" xlink:label="us-gaap_LineOfCreditFacilityFrequencyOfPaymentAndPaymentTerms"/>
    <label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityFrequencyOfPaymentAndPaymentTerms_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Line of Credit Facility, Frequency of Payment and Payment Terms</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Frequency of payments and payment terms</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityFrequencyOfPayments" xlink:label="us-gaap_LineOfCreditFacilityFrequencyOfPayments"/>
    <label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityFrequencyOfPayments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Line Of Credit Facility Frequency Of Payments</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Frequency of payments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityInitiationDate1" xlink:label="us-gaap_LineOfCreditFacilityInitiationDate1"/>
    <label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityInitiationDate1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Line of Credit Facility, Initiation Date</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Initiation date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityLenderDomain" xlink:label="us-gaap_LineOfCreditFacilityLenderDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityLenderDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Line Of Credit Facility Lender [Domain]</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityLineItems" xlink:label="us-gaap_LineOfCreditFacilityLineItems"/>
    <label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Line of Credit Facility [Line Items]</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Line Of Credit Facility Maximum Borrowing Capacity</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Maximum borrowing capacity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityPeriodicPayment" xlink:label="us-gaap_LineOfCreditFacilityPeriodicPayment"/>
    <label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityPeriodicPayment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Line Of Credit Facility Periodic Payment</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Repayment installment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditMember" xlink:label="us-gaap_LineOfCreditMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_LineOfCreditMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Line of Credit [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Line of Credit</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LitigationSettlementAmount" xlink:label="us-gaap_LitigationSettlementAmount"/>
    <label xlink:type="resource" xlink:label="us-gaap_LitigationSettlementAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Litigation Settlement, Amount</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Settlement agreement, amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LitigationStatusAxis" xlink:label="us-gaap_LitigationStatusAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_LitigationStatusAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Litigation Status [Axis]</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LitigationStatusDomain" xlink:label="us-gaap_LitigationStatusDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_LitigationStatusDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Litigation Status [Domain]</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LoansAndLeasesReceivableOther" xlink:label="us-gaap_LoansAndLeasesReceivableOther"/>
    <label xlink:type="resource" xlink:label="us-gaap_LoansAndLeasesReceivableOther_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loans And Leases Receivable Other</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Loan receivable outstanding amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LoansPayableToBankCurrent" xlink:label="us-gaap_LoansPayableToBankCurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_LoansPayableToBankCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Current portion of long term debt (Note 8)</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Long term debt - current portion</label>
    <label xlink:type="resource" xlink:label="us-gaap_LoansPayableToBankCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Current portion of long term debt</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LoansPayableToBank" xlink:label="us-gaap_LoansPayableToBank"/>
    <label xlink:type="resource" xlink:label="us-gaap_LoansPayableToBank_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loans Payable to Bank</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansPayableToBank" xlink:to="us-gaap_LoansPayableToBank_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LoansPayableToBank_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Total Long term debt</label>
    <label xlink:type="resource" xlink:label="us-gaap_LoansPayableToBank_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total Long term debt</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtByCurrentAndNoncurrentAbstract" xlink:label="us-gaap_LongTermDebtByCurrentAndNoncurrentAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtByCurrentAndNoncurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-term Debt [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtByCurrentAndNoncurrentAbstract" xlink:to="us-gaap_LongTermDebtByCurrentAndNoncurrentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long Term Debt Maturities Repayments Of Principal After Year Five</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">December 31, 2021 and thereafter</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long Term Debt Maturities Repayments Of Principal In Next Rolling Twelve Months</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">June 30, 2017</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long Term Debt Maturities Repayments Of Principal In Next Twelve Months</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">December 31, 2016</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-term Debt, Maturities, Repayments of Principal in Rolling after Year Five</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">June 30, 2022 and thereafter</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long Term Debt Maturities Repayments Of Principal In Rolling Year Five</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">June 30, 2021</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long Term Debt Maturities Repayments Of Principal In Rolling Year Four</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">June 30, 2020</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long Term Debt Maturities Repayments Of Principal In Rolling Year Three</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">June 30, 2019</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long Term Debt Maturities Repayments Of Principal In Rolling Year Two</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">June 30, 2018</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long Term Debt Maturities Repayments Of Principal In Year Five</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">December 31, 2020</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long Term Debt Maturities Repayments Of Principal In Year Four</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">December 31, 2019</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long Term Debt Maturities Repayments Of Principal In Year Three</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">December 31, 2018</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long Term Debt Maturities Repayments Of Principal In Year Two</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">December 31, 2017</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtMember" xlink:label="us-gaap_LongTermDebtMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long Term Debt [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMember" xlink:to="us-gaap_LongTermDebtMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Long term debt</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtNoncurrent" xlink:label="us-gaap_LongTermDebtNoncurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long Term Debt Non current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtNoncurrent" xlink:to="us-gaap_LongTermDebtNoncurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Total Long term debt, net</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtPercentageBearingFixedInterestRate" xlink:label="us-gaap_LongTermDebtPercentageBearingFixedInterestRate"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtPercentageBearingFixedInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long Term Debt Percentage Bearing Fixed Interest Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtPercentageBearingFixedInterestRate" xlink:to="us-gaap_LongTermDebtPercentageBearingFixedInterestRate_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtPercentageBearingFixedInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Interest rate</label>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtPercentageBearingFixedInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fixed interest rate on notes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtRollingMaturityAbstract" xlink:label="us-gaap_LongTermDebtRollingMaturityAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtRollingMaturityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-term Debt - Principal payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtRollingMaturityAbstract" xlink:to="us-gaap_LongTermDebtRollingMaturityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtTextBlock" xlink:label="us-gaap_LongTermDebtTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long term Debt [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtTextBlock" xlink:to="us-gaap_LongTermDebtTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebtTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Long-term Debt:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebt" xlink:label="us-gaap_LongTermDebt"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total Long term debt, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebt" xlink:to="us-gaap_LongTermDebt_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Loan amount</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermInvestments" xlink:label="us-gaap_LongTermInvestments"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long Term Investment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermInvestments" xlink:to="us-gaap_LongTermInvestments_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Long term investment (Note 3)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermLoansFromBank" xlink:label="us-gaap_LongTermLoansFromBank"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermLoansFromBank_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xml:lang="en-US">Long term debt, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermLoansFromBank" xlink:to="us-gaap_LongTermLoansFromBank_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermLoansFromBank_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long Term Loans From Bank</label>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermLoansFromBank_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Long term debt - non-current portion</label>
    <label xlink:type="resource" xlink:label="us-gaap_LongTermLoansFromBank_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Long term debt, net of current portion and unamortized deferred finance fees of $14,360 and $9,992, respectively (Note 8)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="us-gaap_LongtermDebtTypeAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongtermDebtTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-term Debt, Type [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeAxis" xlink:to="us-gaap_LongtermDebtTypeAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="us-gaap_LongtermDebtTypeDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongtermDebtTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-term Debt, Type [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeDomain" xlink:to="us-gaap_LongtermDebtTypeDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongtermDebtWeightedAverageInterestRate" xlink:label="us-gaap_LongtermDebtWeightedAverageInterestRate"/>
    <label xlink:type="resource" xlink:label="us-gaap_LongtermDebtWeightedAverageInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Weighted average interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtWeightedAverageInterestRate" xlink:to="us-gaap_LongtermDebtWeightedAverageInterestRate_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LossContingenciesLineItems" xlink:label="us-gaap_LossContingenciesLineItems"/>
    <label xlink:type="resource" xlink:label="us-gaap_LossContingenciesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss Contingencies [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingenciesLineItems" xlink:to="us-gaap_LossContingenciesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LossContingenciesTable" xlink:label="us-gaap_LossContingenciesTable"/>
    <label xlink:type="resource" xlink:label="us-gaap_LossContingenciesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss Contingencies [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingenciesTable" xlink:to="us-gaap_LossContingenciesTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LossContingencyClaimsSettledNumber" xlink:label="us-gaap_LossContingencyClaimsSettledNumber"/>
    <label xlink:type="resource" xlink:label="us-gaap_LossContingencyClaimsSettledNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss Contingency, Claims Settled, Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyClaimsSettledNumber" xlink:to="us-gaap_LossContingencyClaimsSettledNumber_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LossContingencyClaimsSettledNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Number of claims settled</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LossContingencyEstimateOfPossibleLoss" xlink:label="us-gaap_LossContingencyEstimateOfPossibleLoss"/>
    <label xlink:type="resource" xlink:label="us-gaap_LossContingencyEstimateOfPossibleLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss Contingency, Estimate of Possible Loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyEstimateOfPossibleLoss" xlink:to="us-gaap_LossContingencyEstimateOfPossibleLoss_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LossContingencyEstimateOfPossibleLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Loss contigency, Estimate of possible loss</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LossContingencyExpectedTrialCommencement" xlink:label="us-gaap_LossContingencyExpectedTrialCommencement"/>
    <label xlink:type="resource" xlink:label="us-gaap_LossContingencyExpectedTrialCommencement_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss Contingency, Expected Trial Commencement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyExpectedTrialCommencement" xlink:to="us-gaap_LossContingencyExpectedTrialCommencement_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LossContingencyExpectedTrialCommencement_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Date of arbitration hearing</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LossContingencyLawsuitFilingDate" xlink:label="us-gaap_LossContingencyLawsuitFilingDate"/>
    <label xlink:type="resource" xlink:label="us-gaap_LossContingencyLawsuitFilingDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss Contingency, Lawsuit Filing Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyLawsuitFilingDate" xlink:to="us-gaap_LossContingencyLawsuitFilingDate_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LossContingencyLawsuitFilingDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Arbitration proceedings, filling date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LossContingencyLossInPeriod" xlink:label="us-gaap_LossContingencyLossInPeriod"/>
    <label xlink:type="resource" xlink:label="us-gaap_LossContingencyLossInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss Contingency, Loss in Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyLossInPeriod" xlink:to="us-gaap_LossContingencyLossInPeriod_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LossContingencyLossInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Revenue loss due to engine failure</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LossContingencyNameOfDefendant" xlink:label="us-gaap_LossContingencyNameOfDefendant"/>
    <label xlink:type="resource" xlink:label="us-gaap_LossContingencyNameOfDefendant_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss Contingency, Name of Defendant</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyNameOfDefendant" xlink:to="us-gaap_LossContingencyNameOfDefendant_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LossContingencyNameOfDefendant_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Name of defendant</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LossContingencyRangeOfPossibleLossMaximum" xlink:label="us-gaap_LossContingencyRangeOfPossibleLossMaximum"/>
    <label xlink:type="resource" xlink:label="us-gaap_LossContingencyRangeOfPossibleLossMaximum_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss Contingency, Range of Possible Loss, Maximum</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyRangeOfPossibleLossMaximum" xlink:to="us-gaap_LossContingencyRangeOfPossibleLossMaximum_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LossContingencyRangeOfPossibleLossMaximum_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fines subject to adjudication</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LossContingencyRangeOfPossibleLossMinimum" xlink:label="us-gaap_LossContingencyRangeOfPossibleLossMinimum"/>
    <label xlink:type="resource" xlink:label="us-gaap_LossContingencyRangeOfPossibleLossMinimum_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss Contingency, Range of Possible Loss, Minimum</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyRangeOfPossibleLossMinimum" xlink:to="us-gaap_LossContingencyRangeOfPossibleLossMinimum_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LossContingencyRangeOfPossibleLossMinimum_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Irrevocably adjudicated fines</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LossContingencySettlementAgreementDate" xlink:label="us-gaap_LossContingencySettlementAgreementDate"/>
    <label xlink:type="resource" xlink:label="us-gaap_LossContingencySettlementAgreementDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss Contingency, Settlement Agreement, Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencySettlementAgreementDate" xlink:to="us-gaap_LossContingencySettlementAgreementDate_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_LossContingencySettlementAgreementDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Settlement agreement date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LossOnContractTermination" xlink:label="us-gaap_LossOnContractTermination"/>
    <label xlink:type="resource" xlink:label="us-gaap_LossOnContractTermination_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss on time charter agreement termination (Note 7)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossOnContractTermination" xlink:to="us-gaap_LossOnContractTermination_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MachineryAndEquipmentMember" xlink:label="us-gaap_MachineryAndEquipmentMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_MachineryAndEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Machinery And Equipment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MachineryAndEquipmentMember" xlink:to="us-gaap_MachineryAndEquipmentMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MajorCustomersAxis" xlink:label="us-gaap_MajorCustomersAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_MajorCustomersAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Customer [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MajorCustomersAxis" xlink:to="us-gaap_MajorCustomersAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MajorTypesOfDebtSecuritiesDomain" xlink:label="us-gaap_MajorTypesOfDebtSecuritiesDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_MajorTypesOfDebtSecuritiesDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Major Types Of Debt Securities [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MajorTypesOfDebtSecuritiesDomain" xlink:to="us-gaap_MajorTypesOfDebtSecuritiesDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MalpracticeInsuranceMaximumCoveragePerIncident" xlink:label="us-gaap_MalpracticeInsuranceMaximumCoveragePerIncident"/>
    <label xlink:type="resource" xlink:label="us-gaap_MalpracticeInsuranceMaximumCoveragePerIncident_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Malpractice Insurance, Maximum Coverage Per Incident</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MalpracticeInsuranceMaximumCoveragePerIncident" xlink:to="us-gaap_MalpracticeInsuranceMaximumCoveragePerIncident_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_MalpracticeInsuranceMaximumCoveragePerIncident_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Coverage for pollution</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ManagementFeePayable" xlink:label="us-gaap_ManagementFeePayable"/>
    <label xlink:type="resource" xlink:label="us-gaap_ManagementFeePayable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Management Fee Payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ManagementFeePayable" xlink:to="us-gaap_ManagementFeePayable_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ManagementFeePayable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Due to managers</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ManagementFeesBaseRevenue" xlink:label="us-gaap_ManagementFeesBaseRevenue"/>
    <label xlink:type="resource" xlink:label="us-gaap_ManagementFeesBaseRevenue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Management Fee Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ManagementFeesBaseRevenue" xlink:to="us-gaap_ManagementFeesBaseRevenue_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ManagementFeesBaseRevenue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Management fee income</label>
    <label xlink:type="resource" xlink:label="us-gaap_ManagementFeesBaseRevenue_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Management fee income</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ManagementMember" xlink:label="us-gaap_ManagementMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_ManagementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Management and Directors Fees [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ManagementMember" xlink:to="us-gaap_ManagementMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ManagementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Non-executive directors</label>
    <label xlink:type="resource" xlink:label="us-gaap_ManagementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Management and Directors Fees</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MaritimeEquipmentMember" xlink:label="us-gaap_MaritimeEquipmentMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_MaritimeEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Maritime Equipment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MaritimeEquipmentMember" xlink:to="us-gaap_MaritimeEquipmentMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MaximumMember" xlink:label="us-gaap_MaximumMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_MaximumMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Maximum [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MaximumMember" xlink:to="us-gaap_MaximumMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_MaximumMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Maximum</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MediumTermNotesMember" xlink:label="us-gaap_MediumTermNotesMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_MediumTermNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Medium Term Notes [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MediumTermNotesMember" xlink:to="us-gaap_MediumTermNotesMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_MediumTermNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">8.00% 2019 Notes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MediumtermNotesNoncurrent" xlink:label="us-gaap_MediumtermNotesNoncurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_MediumtermNotesNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xml:lang="en-US">Loan amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MediumtermNotesNoncurrent" xlink:to="us-gaap_MediumtermNotesNoncurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_MediumtermNotesNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Mediumterm Notes Noncurrent</label>
    <label xlink:type="resource" xlink:label="us-gaap_MediumtermNotesNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">8.00% 2019 Notes, net of unamortized deferred finance fees of $1,677 and $1,461, respectively (Note 8)</label>
    <label xlink:type="resource" xlink:label="us-gaap_MediumtermNotesNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Excluding 8.00% 2019 Notes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MinimumMember" xlink:label="us-gaap_MinimumMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_MinimumMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Minimum [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinimumMember" xlink:to="us-gaap_MinimumMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_MinimumMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Minimum</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:label="us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners"/>
    <label xlink:type="resource" xlink:label="us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Minority Interest Ownership Percentage By Noncontrolling Owners</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:to="us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">TMT and affiliates ownership percentage</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NameOfMajorCustomerDomain" xlink:label="us-gaap_NameOfMajorCustomerDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_NameOfMajorCustomerDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Customer [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NameOfMajorCustomerDomain" xlink:to="us-gaap_NameOfMajorCustomerDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash Flows from Financing Activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net cash (used in)/ provided by Financing Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Net cash provided by / (used in) Financing Activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash Flows from Investing Activities:</label>
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    <label xlink:type="resource" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Basic loss per share: [Abstract]</label>
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    <label xlink:type="resource" xlink:label="us-gaap_NetIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net (loss) / income</label>
    <label xlink:type="resource" xlink:label="us-gaap_NetIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Net income / (loss)</label>
    <label xlink:type="resource" xlink:label="us-gaap_NetIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Net income / (loss)</label>
    <label xlink:type="resource" xlink:label="us-gaap_NetIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net income/(loss):</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfChangeOnBasicEarningsPerShare" xlink:label="us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfChangeOnBasicEarningsPerShare"/>
    <label xlink:type="resource" xlink:label="us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfChangeOnBasicEarningsPerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Basic Earnings Per Share</label>
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    <label xlink:type="resource" xlink:label="us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfChangeOnBasicEarningsPerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Effect of change in accounting estimate, loss on basic earnings per share</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfChangeOnDilutedEarningsPerShare" xlink:label="us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfChangeOnDilutedEarningsPerShare"/>
    <label xlink:type="resource" xlink:label="us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfChangeOnDilutedEarningsPerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Diluted Earnings Per Share</label>
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    <label xlink:type="resource" xlink:label="us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfChangeOnDilutedEarningsPerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Effect of change in accounting estimate, loss on diluted earnings per share</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfChangeOnNetIncome" xlink:label="us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfChangeOnNetIncome"/>
    <label xlink:type="resource" xlink:label="us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfChangeOnNetIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfChangeOnNetIncome" xlink:to="us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfChangeOnNetIncome_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfChangeOnNetIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Effect of change in acounting estimate, decrease on net income / (loss)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">New Accounting Pronouncements Policy Policy Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Recent accounting pronouncements:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1" xlink:label="us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1"/>
    <label xlink:type="resource" xlink:label="us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net indebtedness assumed in respect of the Heron Vessels</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NondesignatedMember" xlink:label="us-gaap_NondesignatedMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_NondesignatedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Nondesignated [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NondesignatedMember" xlink:to="us-gaap_NondesignatedMember_lbl"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NonoperatingIncomeExpenseAbstract" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Nonoperating Income Expense [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpenseAbstract" xlink:to="us-gaap_NonoperatingIncomeExpenseAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Other Income/ (Expenses):</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NonoperatingIncomeExpense" xlink:label="us-gaap_NonoperatingIncomeExpense"/>
    <label xlink:type="resource" xlink:label="us-gaap_NonoperatingIncomeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total income (expenses)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpense" xlink:to="us-gaap_NonoperatingIncomeExpense_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_NonoperatingIncomeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total other expenses, net</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NotesAndLoansReceivableGrossNoncurrent" xlink:label="us-gaap_NotesAndLoansReceivableGrossNoncurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_NotesAndLoansReceivableGrossNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Notes And Loans Receivable Gross Noncurrent</label>
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    <label xlink:type="resource" xlink:label="us-gaap_NotesAndLoansReceivableGrossNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Convertible loan receivable, outstanding amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NotesAndLoansReceivableNetNoncurrent" xlink:label="us-gaap_NotesAndLoansReceivableNetNoncurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_NotesAndLoansReceivableNetNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Notes, Loans and Financing Receivable, Net, Noncurrent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesAndLoansReceivableNetNoncurrent" xlink:to="us-gaap_NotesAndLoansReceivableNetNoncurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_NotesAndLoansReceivableNetNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Convertible loan receivable, outstanding amount net of write-offs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NotesPayableFairValueDisclosure" xlink:label="us-gaap_NotesPayableFairValueDisclosure"/>
    <label xlink:type="resource" xlink:label="us-gaap_NotesPayableFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">8.00% 2019 Notes fair value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesPayableFairValueDisclosure" xlink:to="us-gaap_NotesPayableFairValueDisclosure_lbl"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NotesPayableRelatedPartiesClassifiedCurrent" xlink:label="us-gaap_NotesPayableRelatedPartiesClassifiedCurrent"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesPayableRelatedPartiesClassifiedCurrent" xlink:to="us-gaap_NotesPayableRelatedPartiesClassifiedCurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_NotesPayableRelatedPartiesClassifiedCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Excel Vessel Bridge Facility from related parties, current portion (Note 3 &amp; Note 8)</label>
    <label xlink:type="resource" xlink:label="us-gaap_NotesPayableRelatedPartiesClassifiedCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Excel Vessel Bridge Facility - current portion</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent" xlink:label="us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent"/>
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    <label xlink:type="resource" xlink:label="us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Excluding Excel Vessel Bridge Facility presented separately in the balance sheet (Note 3)</label>
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    <label xlink:type="resource" xlink:label="us-gaap_OperatingCostsAndExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operating Costs And Expenses</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessel operating expenses</label>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingCostsAndExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total vessel operating expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="us-gaap_OperatingExpensesAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Expenses</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessel operating expenses</label>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Voyage expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="us-gaap_OperatingExpenses"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total Operating Expenses</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total Operating Expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingIncomeLossAbstract" xlink:label="us-gaap_OperatingIncomeLossAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingIncomeLossAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Operational Loss [Abstract]</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="us-gaap_OperatingIncomeLoss"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operating income/(loss)</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Operating income/(loss)</label>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Operating income / (loss)</label>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Operating loss</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operating Leases Future Minimum Payments Due Current</label>
    <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" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2017</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operating Leases Future Minimum Payments Due In Five Years</label>
    <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" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2021</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operating Leases Future Minimum Payments Due In Four Years</label>
    <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" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2020</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operating Leases Future Minimum Payments Due In Three Years</label>
    <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" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2019</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operating Leases Future Minimum Payments Due In Two Years</label>
    <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" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2018</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operating Leases Future Minimum Payments Due Thereafter</label>
    <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" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">2022 and thereafter</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operating Leases Future Minimum Payments Due</label>
    <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" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xml:lang="en-US">Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operating Leases Future Minimum Payments Receivable Current</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">2017</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operating Leases Future Minimum Payments Receivable In Five Years</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">2021</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operating Leases Future Minimum Payments Receivable In Four Years</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">2020</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operating Leases Future Minimum Payments Receivable In Three Years</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">2019</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operating Leases Future Minimum Payments Receivable In Two Years</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">2018</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operating Leases Future Minimum Payments Receivable Thereafter</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">2022 and thereafter</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">OperatingLeasesFutureMinimumPaymentsReceivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesIncomeStatementCarryingAmountAtLeaseInceptionExceedsFairValue" xlink:label="us-gaap_OperatingLeasesIncomeStatementCarryingAmountAtLeaseInceptionExceedsFairValue"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesIncomeStatementCarryingAmountAtLeaseInceptionExceedsFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operating Leases, Income Statement, Carrying Amount at Lease Inception Exceeds Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesIncomeStatementCarryingAmountAtLeaseInceptionExceedsFairValue" xlink:to="us-gaap_OperatingLeasesIncomeStatementCarryingAmountAtLeaseInceptionExceedsFairValue_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesIncomeStatementCarryingAmountAtLeaseInceptionExceedsFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Charter-in expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesIncomeStatementInitialDirectCosts" xlink:label="us-gaap_OperatingLeasesIncomeStatementInitialDirectCosts"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesIncomeStatementInitialDirectCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operating Leases, Income Statement, Initial Direct Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesIncomeStatementInitialDirectCosts" xlink:to="us-gaap_OperatingLeasesIncomeStatementInitialDirectCosts_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesIncomeStatementInitialDirectCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Charter-in expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis" xlink:label="us-gaap_OperatingLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Charter hire variable portion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis" xlink:to="us-gaap_OperatingLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesRentExpenseNet" xlink:label="us-gaap_OperatingLeasesRentExpenseNet"/>
    <label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesRentExpenseNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Chartered-in vessel expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesRentExpenseNet" xlink:to="us-gaap_OperatingLeasesRentExpenseNet_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Basis of Presentation and General Information [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherAssetImpairmentCharges" xlink:label="us-gaap_OtherAssetImpairmentCharges"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherAssetImpairmentCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Asset Impairment Charges</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetImpairmentCharges" xlink:to="us-gaap_OtherAssetImpairmentCharges_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherAssetImpairmentCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Write-off due to fair value adjustment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherAssetsCurrent" xlink:label="us-gaap_OtherAssetsCurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherAssetsCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Assets Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsCurrent" xlink:to="us-gaap_OtherAssetsCurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherAssetsCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Other current assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherAssetsNoncurrentAbstract" xlink:label="us-gaap_OtherAssetsNoncurrentAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherAssetsNoncurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Assets Noncurrent [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsNoncurrentAbstract" xlink:to="us-gaap_OtherAssetsNoncurrentAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherAssetsNoncurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">OTHER NON-CURRENT ASSETS</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="us-gaap_OtherAssetsNoncurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherAssetsNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Assets, Noncurrent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsNoncurrent" xlink:to="us-gaap_OtherAssetsNoncurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherAssetsNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Other non-current assets (Note 6)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherCommitmentsAbstract" xlink:label="us-gaap_OtherCommitmentsAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherCommitmentsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Commitments [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCommitmentsAbstract" xlink:to="us-gaap_OtherCommitmentsAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherCommitmentsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Years ending December 31,</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherCommitmentsAxis" xlink:label="us-gaap_OtherCommitmentsAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherCommitmentsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Commitments [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCommitmentsAxis" xlink:to="us-gaap_OtherCommitmentsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherCommitmentsDomain" xlink:label="us-gaap_OtherCommitmentsDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherCommitmentsDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Commitments [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCommitmentsDomain" xlink:to="us-gaap_OtherCommitmentsDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherCommitmentsLineItems" xlink:label="us-gaap_OtherCommitmentsLineItems"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherCommitmentsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Commitments [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCommitmentsLineItems" xlink:to="us-gaap_OtherCommitmentsLineItems_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherCommitmentsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Lease commitments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherCommitmentsTable" xlink:label="us-gaap_OtherCommitmentsTable"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherCommitmentsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Commitments [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCommitmentsTable" xlink:to="us-gaap_OtherCommitmentsTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:label="us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecreaseAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecreaseAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:to="us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecreaseAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecreaseAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Less:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:to="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTax"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other comprehensive income/ (loss):</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:to="us-gaap_OtherComprehensiveIncomeLossNetOfTax_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Other comprehensive income / (loss)</label>
    <label xlink:type="resource" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Other comprehensive loss</label>
    <label xlink:type="resource" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other Comprehensive loss (Note 19)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax" xlink:label="us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI for Write-down of Securities, Net of Tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax" xlink:to="us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Write-off of unrealized losses related to forecasted transactions which are no longer considered probable reclassified from other comprehensive income/(loss)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax" xlink:label="us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax" xlink:to="us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Reclassification adjustments of interest rate swap loss</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherComprehensiveIncomeMember" xlink:label="us-gaap_OtherComprehensiveIncomeMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherComprehensiveIncomeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Comprehensive Income [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeMember" xlink:to="us-gaap_OtherComprehensiveIncomeMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherComprehensiveIncomeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Other Comprehensive loss</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherCostAndExpenseOperating" xlink:label="us-gaap_OtherCostAndExpenseOperating"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherCostAndExpenseOperating_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Cost And Expense Operating</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCostAndExpenseOperating" xlink:to="us-gaap_OtherCostAndExpenseOperating_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherCostAndExpenseOperating_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Miscellaneous</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherCostOfOperatingRevenue" xlink:label="us-gaap_OtherCostOfOperatingRevenue"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherCostOfOperatingRevenue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Miscellaneous</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCostOfOperatingRevenue" xlink:to="us-gaap_OtherCostOfOperatingRevenue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherExpenses" xlink:label="us-gaap_OtherExpenses"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other operational loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherExpenses" xlink:to="us-gaap_OtherExpenses_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Other operational loss</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherFinancialServicesCosts" xlink:label="us-gaap_OtherFinancialServicesCosts"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherFinancialServicesCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Financial Services Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherFinancialServicesCosts" xlink:to="us-gaap_OtherFinancialServicesCosts_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherFinancialServicesCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Other bank and finance charges</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherGeneralExpense" xlink:label="us-gaap_OtherGeneralExpense"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherGeneralExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherGeneralExpense" xlink:to="us-gaap_OtherGeneralExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherIncomeAbstract" xlink:label="us-gaap_OtherIncomeAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherIncomeAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Operational Gain [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherIncomeAbstract" xlink:to="us-gaap_OtherIncomeAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherIncome" xlink:label="us-gaap_OtherIncome"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other operational gain (Note 10)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherIncome" xlink:to="us-gaap_OtherIncome_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Other operational gain</label>
    <label xlink:type="resource" xlink:label="us-gaap_OtherIncome_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Other operational gain</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherLiabilitiesNoncurrent" xlink:label="us-gaap_OtherLiabilitiesNoncurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherLiabilitiesNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other non-current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLiabilitiesNoncurrent" xlink:to="us-gaap_OtherLiabilitiesNoncurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherNoncashIncomeExpense" xlink:label="us-gaap_OtherNoncashIncomeExpense"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherNoncashIncomeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">OtherNoncashIncomeExpense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNoncashIncomeExpense" xlink:to="us-gaap_OtherNoncashIncomeExpense_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherNoncashIncomeExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Other non-cash charges</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherNoncashIncome" xlink:label="us-gaap_OtherNoncashIncome"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherNoncashIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Noncash Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNoncashIncome" xlink:to="us-gaap_OtherNoncashIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherNoncurrentAssetsMember" xlink:label="us-gaap_OtherNoncurrentAssetsMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherNoncurrentAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Noncurrent Assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNoncurrentAssetsMember" xlink:to="us-gaap_OtherNoncurrentAssetsMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherNoncurrentAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Other non-current assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherNonoperatingIncomeExpense" xlink:label="us-gaap_OtherNonoperatingIncomeExpense"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherNonoperatingIncomeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total other income/(expense), net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNonoperatingIncomeExpense" xlink:to="us-gaap_OtherNonoperatingIncomeExpense_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherNonoperatingIncomeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total other expenses, net</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherReceivablesNetCurrent" xlink:label="us-gaap_OtherReceivablesNetCurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherReceivablesNetCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Due from managers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherReceivablesNetCurrent" xlink:to="us-gaap_OtherReceivablesNetCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1" xlink:label="us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Significant Noncash Transaction Value Of Consideration Given1</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1" xlink:to="us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Consideration paid in common shares for Oceanbulk and Pappas Companies (51,988,494 shares issued)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsForConstructionInProcess" xlink:label="us-gaap_PaymentsForConstructionInProcess"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsForConstructionInProcess_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Payments for Construction in Process</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForConstructionInProcess" xlink:to="us-gaap_PaymentsForConstructionInProcess_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsForConstructionInProcess_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Pre-delivery installments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsForPostemploymentBenefits" xlink:label="us-gaap_PaymentsForPostemploymentBenefits"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsForPostemploymentBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Severance payment, cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForPostemploymentBenefits" xlink:to="us-gaap_PaymentsForPostemploymentBenefits_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Repurchase of common shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:to="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Repurchase and cancellation of common shares, value (Note 10)</label>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xml:lang="en-US">Repurchase of common shares</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsForRepurchaseOfEquityAbstract" xlink:label="us-gaap_PaymentsForRepurchaseOfEquityAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsForRepurchaseOfEquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Payments For Repurchase Of Equity [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForRepurchaseOfEquityAbstract" xlink:to="us-gaap_PaymentsForRepurchaseOfEquityAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsForRepurchaseOfEquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Share Re-purchase plan</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsOfDebtRestructuringCosts" xlink:label="us-gaap_PaymentsOfDebtRestructuringCosts"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsOfDebtRestructuringCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Payments Of Debt Restructuring Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfDebtRestructuringCosts" xlink:to="us-gaap_PaymentsOfDebtRestructuringCosts_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsOfDebtRestructuringCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Processing fee</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsOfDividendsCommonStock" xlink:label="us-gaap_PaymentsOfDividendsCommonStock"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsOfDividendsCommonStock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">PaymentsOfDividendsCommonStock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfDividendsCommonStock" xlink:to="us-gaap_PaymentsOfDividendsCommonStock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsOfDividendsCommonStock_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Cash dividend</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsOfFinancingCosts" xlink:label="us-gaap_PaymentsOfFinancingCosts"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsOfFinancingCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">PaymentsOfFinancingCosts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfFinancingCosts" xlink:to="us-gaap_PaymentsOfFinancingCosts_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsOfFinancingCosts_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Financing fees paid</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsOfStockIssuanceCosts" xlink:label="us-gaap_PaymentsOfStockIssuanceCosts"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsOfStockIssuanceCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Offering expenses paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfStockIssuanceCosts" xlink:to="us-gaap_PaymentsOfStockIssuanceCosts_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsOfStockIssuanceCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Offering expenses</label>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsOfStockIssuanceCosts_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Offering expenses paid related to the issuance of common stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsToAcquireAssetsInvestingActivities" xlink:label="us-gaap_PaymentsToAcquireAssetsInvestingActivities"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireAssetsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Payments To Acquire Assets Investing Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireAssetsInvestingActivities" xlink:to="us-gaap_PaymentsToAcquireAssetsInvestingActivities_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireAssetsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Advances for Secondhand vessels</label>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireAssetsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Advances for Secondhand vessels</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesGross" xlink:label="us-gaap_PaymentsToAcquireBusinessesGross"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireBusinessesGross_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xml:lang="en-US">Cash payment for acquisition of vessels</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireBusinessesGross" xlink:to="us-gaap_PaymentsToAcquireBusinessesGross_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireBusinessesGross_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Payments To Acquire Businesses Gross</label>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireBusinessesGross_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Payment to acquire business</label>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireBusinessesGross_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Expected payment upon the distribution of vessels</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsToAcquireEquipmentOnLease" xlink:label="us-gaap_PaymentsToAcquireEquipmentOnLease"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireEquipmentOnLease_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Payments to Acquire Equipment on Lease</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireEquipmentOnLease" xlink:to="us-gaap_PaymentsToAcquireEquipmentOnLease_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireEquipmentOnLease_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Payments to acquire equipment on lease</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsToAcquireIntangibleAssets" xlink:label="us-gaap_PaymentsToAcquireIntangibleAssets"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireIntangibleAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Payments To Acquire Intangible Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireIntangibleAssets" xlink:to="us-gaap_PaymentsToAcquireIntangibleAssets_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireIntangibleAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Payments to acquire intangible assets</label>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireIntangibleAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Cash paid for above market acquired time charters</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsToAcquireLongtermInvestments" xlink:label="us-gaap_PaymentsToAcquireLongtermInvestments"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireLongtermInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">PaymentsToAcquireLongtermInvestments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireLongtermInvestments" xlink:to="us-gaap_PaymentsToAcquireLongtermInvestments_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireLongtermInvestments_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Long term investment (Note 3)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsToAcquireProductiveAssetsAbstract" xlink:label="us-gaap_PaymentsToAcquireProductiveAssetsAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireProductiveAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Payments To Acquire Productive Assets [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireProductiveAssetsAbstract" xlink:to="us-gaap_PaymentsToAcquireProductiveAssetsAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireProductiveAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Newbuildings</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xml:lang="en-US">Delivery installment payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Payments to acquire property plant and equipment</label>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Pre-delivery installments</label>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Pre-delivery Yard installments</label>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Advances for vessels acquisitions and vessels under construction</label>
    <label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xml:lang="en-US">Advances for vessels under construction and acquisition of vessels and other assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PendingLitigationMember" xlink:label="us-gaap_PendingLitigationMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_PendingLitigationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Pending Litigation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PendingLitigationMember" xlink:to="us-gaap_PendingLitigationMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PensionAndOtherPostretirementPlansNonpensionBenefitsPolicy" xlink:label="us-gaap_PensionAndOtherPostretirementPlansNonpensionBenefitsPolicy"/>
    <label xlink:type="resource" xlink:label="us-gaap_PensionAndOtherPostretirementPlansNonpensionBenefitsPolicy_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Pension And Other Postretirement Plans Nonpension Benefits Policy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PensionAndOtherPostretirementPlansNonpensionBenefitsPolicy" xlink:to="us-gaap_PensionAndOtherPostretirementPlansNonpensionBenefitsPolicy_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PensionAndOtherPostretirementPlansNonpensionBenefitsPolicy_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Pension and retirement benefit obligations?crew</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PensionAndOtherPostretirementPlansPensionsPolicy" xlink:label="us-gaap_PensionAndOtherPostretirementPlansPensionsPolicy"/>
    <label xlink:type="resource" xlink:label="us-gaap_PensionAndOtherPostretirementPlansPensionsPolicy_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Pension And Other Postretirement Plans Pensions Policy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PensionAndOtherPostretirementPlansPensionsPolicy" xlink:to="us-gaap_PensionAndOtherPostretirementPlansPensionsPolicy_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PensionAndOtherPostretirementPlansPensionsPolicy_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Pension and retirement benefit obligations?administrative personnel</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PercentageOfDebtHedgedByInterestRateDerivatives" xlink:label="us-gaap_PercentageOfDebtHedgedByInterestRateDerivatives"/>
    <label xlink:type="resource" xlink:label="us-gaap_PercentageOfDebtHedgedByInterestRateDerivatives_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Percentage of Debt Hedged by Interest Rate Derivatives</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PercentageOfDebtHedgedByInterestRateDerivatives" xlink:to="us-gaap_PercentageOfDebtHedgedByInterestRateDerivatives_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PercentageOfDebtHedgedByInterestRateDerivatives_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Percentage of debt hedged by interest rate swap agreement</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PlanNameAxis" xlink:label="us-gaap_PlanNameAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_PlanNameAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Incentive Plan [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PlanNameAxis" xlink:to="us-gaap_PlanNameAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PlanNameDomain" xlink:label="us-gaap_PlanNameDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_PlanNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Incentive Plan [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PlanNameDomain" xlink:to="us-gaap_PlanNameDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PositiveOutcomeOfLitigationMember" xlink:label="us-gaap_PositiveOutcomeOfLitigationMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_PositiveOutcomeOfLitigationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Positive Outcome of Litigation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PositiveOutcomeOfLitigationMember" xlink:to="us-gaap_PositiveOutcomeOfLitigationMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PreferredStockMember" xlink:label="us-gaap_PreferredStockMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_PreferredStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Preferred Stock [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockMember" xlink:to="us-gaap_PreferredStockMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PreferredStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Preferred Stock</label>
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    <label xlink:type="resource" xlink:label="us-gaap_PreferredStockNumberOfSharesParValueAndOtherDisclosuresAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Preferred Stock:</label>
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    <label xlink:type="resource" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Preferred Stock - Par Value</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="us-gaap_PreferredStockSharesAuthorized"/>
    <label xlink:type="resource" xlink:label="us-gaap_PreferredStockSharesAuthorized_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Preferred Stock - Shares Authorized</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="us-gaap_PreferredStockSharesIssued"/>
    <label xlink:type="resource" xlink:label="us-gaap_PreferredStockSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Preferred Stock - Shares Issued</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="us-gaap_PreferredStockSharesOutstanding"/>
    <label xlink:type="resource" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Preferred Stock - Shares Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesOutstanding" xlink:to="us-gaap_PreferredStockSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="us-gaap_PreferredStockValue"/>
    <label xlink:type="resource" xlink:label="us-gaap_PreferredStockValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Preferred stock value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockValue" xlink:to="us-gaap_PreferredStockValue_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PreferredStockValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Preferred Stock; $0.01 par value, authorized 25,000,000 shares; none issued or outstanding at December 31, 2015 and June 30, 2016 (Note 9)</label>
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    <label xlink:type="resource" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Prepaid expenses and other receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:to="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Prepaid expenses and other advances</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:label="us-gaap_PrepaidExpenseCurrentAndNoncurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_PrepaidExpenseCurrentAndNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Prepaid Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:to="us-gaap_PrepaidExpenseCurrentAndNoncurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PrepaidExpenseCurrentAndNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Bareboat capital leases - upfront hire &amp; handling fees</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PrepaidExpensesAndOtherCurrentAssetsMember" xlink:label="us-gaap_PrepaidExpensesAndOtherCurrentAssetsMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_PrepaidExpensesAndOtherCurrentAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Prepaid Expenses and Other Current Assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidExpensesAndOtherCurrentAssetsMember" xlink:to="us-gaap_PrepaidExpensesAndOtherCurrentAssetsMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PrepaidExpensesAndOtherCurrentAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Prepaid expenses and other receivables</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PrivatePlacementMember" xlink:label="us-gaap_PrivatePlacementMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_PrivatePlacementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Private Placement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrivatePlacementMember" xlink:to="us-gaap_PrivatePlacementMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PrivatePlacementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Private Placement</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProFormaMember" xlink:label="us-gaap_ProFormaMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProFormaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Pro Forma [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProFormaMember" xlink:to="us-gaap_ProFormaMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProFormaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Pro forma adjustments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromBankDebt" xlink:label="us-gaap_ProceedsFromBankDebt"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromBankDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds from bank loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromBankDebt" xlink:to="us-gaap_ProceedsFromBankDebt_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromInsuranceSettlementInvestingActivities" xlink:label="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Insurance proceeds</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities" xlink:to="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Hull and Machinery Insurance proceeds</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromIssuanceInitialPublicOffering" xlink:label="us-gaap_ProceedsFromIssuanceInitialPublicOffering"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceInitialPublicOffering_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds From Issuance Initial Public Offering</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceInitialPublicOffering" xlink:to="us-gaap_ProceedsFromIssuanceInitialPublicOffering_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceInitialPublicOffering_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Proceeds from initial public offering</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds from issuance of common stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:to="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Proceeds from issuance of common stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromIssuanceOfDebt" xlink:label="us-gaap_ProceedsFromIssuanceOfDebt"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceOfDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds From Issuance Of Debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfDebt" xlink:to="us-gaap_ProceedsFromIssuanceOfDebt_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceOfDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Proceeds from bank loans and capital leases</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet" xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds from Issuance of Long-term Debt and Capital Securities, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet" xlink:to="us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Proceeds from bank loans and capital leases</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds From Issuance Of Long Term Debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:to="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Proceeds from issuance of notes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt" xlink:label="us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds from Issuance of Senior Long-term Debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt" xlink:to="us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Net proceeds from issuance of debt</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromLegalSettlements" xlink:label="us-gaap_ProceedsFromLegalSettlements"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromLegalSettlements_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Legal proceeds</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromLegalSettlements" xlink:to="us-gaap_ProceedsFromLegalSettlements_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromLegalSettlements_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Sale of future claims proceeds</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromLinesOfCredit" xlink:label="us-gaap_ProceedsFromLinesOfCredit"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromLinesOfCredit_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds from Lines of Credit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromLinesOfCredit" xlink:to="us-gaap_ProceedsFromLinesOfCredit_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromLinesOfCredit_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Amount drawn down</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromLongTermCapitalLeaseObligations" xlink:label="us-gaap_ProceedsFromLongTermCapitalLeaseObligations"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromLongTermCapitalLeaseObligations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds from Long-term Capital Lease Obligations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromLongTermCapitalLeaseObligations" xlink:to="us-gaap_ProceedsFromLongTermCapitalLeaseObligations_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromPaymentsForTradingSecurities" xlink:label="us-gaap_ProceedsFromPaymentsForTradingSecurities"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromPaymentsForTradingSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds from (Payments for) Trading Securities, Short-term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromPaymentsForTradingSecurities" xlink:to="us-gaap_ProceedsFromPaymentsForTradingSecurities_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromPaymentsForTradingSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Proceeds from sale of trading securities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromSaleOfOtherReceivables" xlink:label="us-gaap_ProceedsFromSaleOfOtherReceivables"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromSaleOfOtherReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds from Sale of Other Receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfOtherReceivables" xlink:to="us-gaap_ProceedsFromSaleOfOtherReceivables_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromSaleOfOtherReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Proceeds from sale of settled claim</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash proceeds from vessel sale</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:to="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Cash proceeds from vessel sales (Note 5)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProfessionalAndContractServicesExpense" xlink:label="us-gaap_ProfessionalAndContractServicesExpense"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProfessionalAndContractServicesExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Management fees</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Management fees (Note 3 and Note 10)</label>
    <label xlink:type="resource" xlink:label="us-gaap_ProfessionalAndContractServicesExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Management fees</label>
    <label xlink:type="resource" xlink:label="us-gaap_ProfessionalAndContractServicesExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xml:lang="en-US">Management fee expense</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProfessionalFees" xlink:label="us-gaap_ProfessionalFees"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProfessionalFees_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Consultancy fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProfessionalFees" xlink:to="us-gaap_ProfessionalFees_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProfessionalFees_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Annual fee charged</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProfitLoss" xlink:label="us-gaap_ProfitLoss"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProfitLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Profit Loss</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Income/(Loss) before equity in income of investee</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract" xlink:label="us-gaap_PropertyPlantAndEquipmentAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels and other fixed assets, net [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentAbstract" xlink:to="us-gaap_PropertyPlantAndEquipmentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAdditions" xlink:label="us-gaap_PropertyPlantAndEquipmentAdditions"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentAdditions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Property Plant And Equipment Additions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentAdditions" xlink:to="us-gaap_PropertyPlantAndEquipmentAdditions_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentAdditions_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Additions to vessel cost and other fixed assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:to="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDepreciationMethods" xlink:label="us-gaap_PropertyPlantAndEquipmentDepreciationMethods"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentDepreciationMethods_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Property Plant And Equipment Depreciation Methods</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentDepreciationMethods" xlink:to="us-gaap_PropertyPlantAndEquipmentDepreciationMethods_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentDepreciationMethods_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessels' depreciation method</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels and Other Fixed Assets Net Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessels and other fixed assets, net:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisposals" xlink:label="us-gaap_PropertyPlantAndEquipmentDisposals"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentDisposals_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Property Plant And Equipment Disposals</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentDisposals" xlink:to="us-gaap_PropertyPlantAndEquipmentDisposals_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentDisposals_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessels delivered (Note 5)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentFairValueDisclosure" xlink:label="us-gaap_PropertyPlantAndEquipmentFairValueDisclosure"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Property, Plant, and Equipment, Fair Value Disclosure</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentFairValueDisclosure" xlink:to="us-gaap_PropertyPlantAndEquipmentFairValueDisclosure_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Property, plant, and equipment, Fair value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGrossAbstract" xlink:label="us-gaap_PropertyPlantAndEquipmentGrossAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentGrossAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentGrossAbstract" xlink:to="us-gaap_PropertyPlantAndEquipmentGrossAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:label="us-gaap_PropertyPlantAndEquipmentGross"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Property Plant And Equipment Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentGross" xlink:to="us-gaap_PropertyPlantAndEquipmentGross_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total cost</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentLineItems" xlink:to="us-gaap_PropertyPlantAndEquipmentLineItems_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fair Value of Above/Below Market Acquired Time Charters [Line Items]</label>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Vessel</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentMember" xlink:label="us-gaap_PropertyPlantAndEquipmentMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Property Plant And Equipment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentMember" xlink:to="us-gaap_PropertyPlantAndEquipmentMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessels and other fixed assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNetAbstract" xlink:label="us-gaap_PropertyPlantAndEquipmentNetAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentNetAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Property Plant And Equipment Net [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNetAbstract" xlink:to="us-gaap_PropertyPlantAndEquipmentNetAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentNetAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">FIXED ASSETS</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total fixed assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessels and other fixed assets, net</label>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total Fixed Assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentOther" xlink:label="us-gaap_PropertyPlantAndEquipmentOther"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentOther_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">PropertyPlantAndEquipmentOther</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentOther" xlink:to="us-gaap_PropertyPlantAndEquipmentOther_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentOther_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Other fixed assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels, net</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of vessels and other fixed assets, net</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Schedule of vessels and other fixed assets, net</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels [Domain]</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Property Plant And Equipment Useful Life</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessel's useful life</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits" xlink:label="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits"/>
    <label xlink:type="resource" xlink:label="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Property Subject to or Available for Operating Lease, Number of Units</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Number of time charters</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProvisionForDoubtfulAccounts" xlink:label="us-gaap_ProvisionForDoubtfulAccounts"/>
    <label xlink:type="resource" xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Provision For Doubtful Accounts</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Provision for doubtful receivables</label>
    <label xlink:type="resource" xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Bad debt expense</label>
    <label xlink:type="resource" xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Bad debt expense</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RangeAxis" xlink:label="us-gaap_RangeAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_RangeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Range [Axis]</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RangeMember" xlink:label="us-gaap_RangeMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_RangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Range [Domain]</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ReceivablesFairValueDisclosure" xlink:label="us-gaap_ReceivablesFairValueDisclosure"/>
    <label xlink:type="resource" xlink:label="us-gaap_ReceivablesFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Receivables, Fair Value Disclosure</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fiar value, Loan receivable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ReceivablesPolicyTextBlock" xlink:label="us-gaap_ReceivablesPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_ReceivablesPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Receivables Policy [Text Block]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Trade accounts receivable, net</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RelatedPartyCosts" xlink:label="us-gaap_RelatedPartyCosts"/>
    <label xlink:type="resource" xlink:label="us-gaap_RelatedPartyCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Related Party Costs</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Commissions - related parties (Note 3)</label>
    <label xlink:type="resource" xlink:label="us-gaap_RelatedPartyCosts_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Voyage expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="us-gaap_RelatedPartyDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_RelatedPartyDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Related Party (Domain)</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RelatedPartyTransactionAxis" xlink:label="us-gaap_RelatedPartyTransactionAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Related Party Transaction [Axis]</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RelatedPartyTransactionDate" xlink:label="us-gaap_RelatedPartyTransactionDate"/>
    <label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Related Party Transaction, Date</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Expiration date of agreement</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RelatedPartyTransactionDomain" xlink:label="us-gaap_RelatedPartyTransactionDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Related Party Transaction [Domain]</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:label="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty"/>
    <label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Related Party Transaction, Expenses from Transactions with Related Party</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:to="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Employment services fee</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RelatedPartyTransactionLineItems" xlink:label="us-gaap_RelatedPartyTransactionLineItems"/>
    <label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Related Party Transaction [Line Items]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Related Party Transaction</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="us-gaap_RelatedPartyTransactionsAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Transactions with Related Parties [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsAbstract" xlink:to="us-gaap_RelatedPartyTransactionsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Related Parties Transactions [Axis]</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Transactions with Related Parties Text Block</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Transactions with Related Parties:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RepaymentsOfBankDebt" xlink:label="us-gaap_RepaymentsOfBankDebt"/>
    <label xlink:type="resource" xlink:label="us-gaap_RepaymentsOfBankDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">RepaymentsOfBankDebt</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Loan repayments</label>
    <label xlink:type="resource" xlink:label="us-gaap_RepaymentsOfBankDebt_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Loan prepayments and repayments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RepaymentsOfDebt" xlink:label="us-gaap_RepaymentsOfDebt"/>
    <label xlink:type="resource" xlink:label="us-gaap_RepaymentsOfDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Repayments Of Debt</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Repayments of debt</label>
    <label xlink:type="resource" xlink:label="us-gaap_RepaymentsOfDebt_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xml:lang="en-US">Loan prepayments and repayments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RepaymentsOfLinesOfCredit" xlink:label="us-gaap_RepaymentsOfLinesOfCredit"/>
    <label xlink:type="resource" xlink:label="us-gaap_RepaymentsOfLinesOfCredit_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Repayments of Lines of Credit</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Repayment amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RepaymentsOfLongTermLinesOfCredit" xlink:label="us-gaap_RepaymentsOfLongTermLinesOfCredit"/>
    <label xlink:type="resource" xlink:label="us-gaap_RepaymentsOfLongTermLinesOfCredit_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Repayments of Long-term Lines of Credit</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Repayments of lines of credit</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RepurchaseAgreementCounterpartyNameDomain" xlink:label="us-gaap_RepurchaseAgreementCounterpartyNameDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_RepurchaseAgreementCounterpartyNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Counterparty Name [Domain]</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue"/>
    <label xlink:type="resource" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Restricted cash, current (Note 7 and Note 18)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Restricted cash, current (Note 8)</label>
    <label xlink:type="resource" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Restricted cash</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash and Cash Equivalents [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:to="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Legally restricted</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsNoncurrent" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsNoncurrent"/>
    <label xlink:type="resource" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Restricted cash , non-current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCashAndCashEquivalentsNoncurrent" xlink:to="us-gaap_RestrictedCashAndCashEquivalentsNoncurrent_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Restricted cash, non-current (Note 8)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RestrictedStockMember" xlink:label="us-gaap_RestrictedStockMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_RestrictedStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Restricted Stock [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Restricted common shares</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit"/>
    <label xlink:type="resource" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Retained Earnings Accumulated Deficit</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Accumulated deficit</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="us-gaap_RetainedEarningsMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_RetainedEarningsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Retained Earnings [Member]</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Accumulated deficit</label>
    <label xlink:type="resource" xlink:label="us-gaap_RetainedEarningsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Retained Earnings/(Accumulated Deficit)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="us-gaap_RevenuesAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_RevenuesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Revenues [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenuesAbstract" xlink:to="us-gaap_RevenuesAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_RevenuesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Revenues:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_Revenues" xlink:label="us-gaap_Revenues"/>
    <label xlink:type="resource" xlink:label="us-gaap_Revenues_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Voyage revenues</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total revenues</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SalariesAndWages" xlink:label="us-gaap_SalariesAndWages"/>
    <label xlink:type="resource" xlink:label="us-gaap_SalariesAndWages_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Compensation</label>
    <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" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Crew wages and related costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized" xlink:label="us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized"/>
    <label xlink:type="resource" xlink:label="us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Sale Leaseback Transaction, Current Period Gain Recognized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized" xlink:to="us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Amortization of deferred gain</label>
    <label xlink:type="resource" xlink:label="us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Amortization of deferred gain (Note 5)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SaleLeasebackTransactionDate" xlink:label="us-gaap_SaleLeasebackTransactionDate"/>
    <label xlink:type="resource" xlink:label="us-gaap_SaleLeasebackTransactionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Sale Leaseback Transaction, Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleLeasebackTransactionDate" xlink:to="us-gaap_SaleLeasebackTransactionDate_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SaleLeasebackTransactionDeferredGainGross" xlink:label="us-gaap_SaleLeasebackTransactionDeferredGainGross"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SaleLeasebackTransactionDeferredGainNet" xlink:label="us-gaap_SaleLeasebackTransactionDeferredGainNet"/>
    <label xlink:type="resource" xlink:label="us-gaap_SaleLeasebackTransactionDeferredGainNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Sale Leaseback Transaction, Deferred Gain, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleLeasebackTransactionDeferredGainNet" xlink:to="us-gaap_SaleLeasebackTransactionDeferredGainNet_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SaleLeasebackTransactionDescriptionAxis" xlink:label="us-gaap_SaleLeasebackTransactionDescriptionAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_SaleLeasebackTransactionDescriptionAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Sale Leaseback Transaction, Description [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleLeasebackTransactionDescriptionAxis" xlink:to="us-gaap_SaleLeasebackTransactionDescriptionAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SaleLeasebackTransactionDescription" xlink:label="us-gaap_SaleLeasebackTransactionDescription"/>
    <label xlink:type="resource" xlink:label="us-gaap_SaleLeasebackTransactionDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Sale Leaseback Transaction, Description</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleLeasebackTransactionDescription" xlink:to="us-gaap_SaleLeasebackTransactionDescription_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SaleLeasebackTransactionNameDomain" xlink:label="us-gaap_SaleLeasebackTransactionNameDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_SaleLeasebackTransactionNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Sale Leaseback Transaction, Name [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleLeasebackTransactionNameDomain" xlink:to="us-gaap_SaleLeasebackTransactionNameDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SaleOfStockConsiderationReceivedOnTransaction" xlink:label="us-gaap_SaleOfStockConsiderationReceivedOnTransaction"/>
    <label xlink:type="resource" xlink:label="us-gaap_SaleOfStockConsiderationReceivedOnTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Public offering</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleOfStockConsiderationReceivedOnTransaction" xlink:to="us-gaap_SaleOfStockConsiderationReceivedOnTransaction_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SalesCommissionsAndFees" xlink:label="us-gaap_SalesCommissionsAndFees"/>
    <label xlink:type="resource" xlink:label="us-gaap_SalesCommissionsAndFees_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xml:lang="en-US">Commissions - third parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SalesCommissionsAndFees" xlink:to="us-gaap_SalesCommissionsAndFees_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SalesCommissionsAndFees_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Sales commissions and fees</label>
    <label xlink:type="resource" xlink:label="us-gaap_SalesCommissionsAndFees_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Voyage expenses</label>
    <label xlink:type="resource" xlink:label="us-gaap_SalesCommissionsAndFees_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Voyage expenses-Interchart (a)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SalesRevenueNetMember" xlink:label="us-gaap_SalesRevenueNetMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_SalesRevenueNetMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Sales Revenue, Net [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SalesRevenueNetMember" xlink:to="us-gaap_SalesRevenueNetMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SalesRevenueNetMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Voyage revenues</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SalvageValueMember" xlink:label="us-gaap_SalvageValueMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_SalvageValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Salvage Value [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SalvageValueMember" xlink:to="us-gaap_SalvageValueMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SalvageValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Salvage Value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="us-gaap_ScenarioUnspecifiedDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScenarioUnspecifiedDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Scenario Unspecified [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="us-gaap_ScenarioUnspecifiedDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock" xlink:label="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Accrued Liabilities [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock" xlink:to="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Schedule of accrued liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Business Acquisitions, by Acquisition [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:to="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfChangeInAccountingEstimateTable" xlink:label="us-gaap_ScheduleOfChangeInAccountingEstimateTable"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfChangeInAccountingEstimateTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Change in Accounting Estimate [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfChangeInAccountingEstimateTable" xlink:to="us-gaap_ScheduleOfChangeInAccountingEstimateTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfDebtTableTextBlock" xlink:label="us-gaap_ScheduleOfDebtTableTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfDebtTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Debt Table [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDebtTableTextBlock" xlink:to="us-gaap_ScheduleOfDebtTableTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfDebtTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Bank loans and notes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock" xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Derivative Instruments Effect On Other Comprehensive Income Loss [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock" xlink:to="us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Derivative instruments effect on other comprehensive income loss</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:label="us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Derivatives Instruments Statements Of Financial Performance And Financial Position Location [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:to="us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Derivative instruments effect on statement of operations</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:label="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Earnings / (Loss) per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:to="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfEntityWideRevenueByMajorCustomersByReportingSegmentsTable" xlink:label="us-gaap_ScheduleOfEntityWideRevenueByMajorCustomersByReportingSegmentsTable"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfEntityWideRevenueByMajorCustomersByReportingSegmentsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Schedule Of Entity Wide Revenue By Major Customers By Reporting Segments [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEntityWideRevenueByMajorCustomersByReportingSegmentsTable" xlink:to="us-gaap_ScheduleOfEntityWideRevenueByMajorCustomersByReportingSegmentsTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:label="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:to="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fair value measurements on a recurring basis</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfFutureMinimumLeasePaymentsForCapitalLeasesTableTextBlock" xlink:label="us-gaap_ScheduleOfFutureMinimumLeasePaymentsForCapitalLeasesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfFutureMinimumLeasePaymentsForCapitalLeasesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfFutureMinimumLeasePaymentsForCapitalLeasesTableTextBlock" xlink:to="us-gaap_ScheduleOfFutureMinimumLeasePaymentsForCapitalLeasesTableTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfFutureMinimumLeasePaymentsForCapitalLeasesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Capital lease obligations, Principal payments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock" xlink:label="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock" xlink:to="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Schedule of future minimum contractual charter revenue</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfInventoryCurrentTableTextBlock" xlink:label="us-gaap_ScheduleOfInventoryCurrentTableTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfInventoryCurrentTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of inventories</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfInventoryCurrentTableTextBlock" xlink:to="us-gaap_ScheduleOfInventoryCurrentTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:label="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Maturities Of Long Term Debt [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:to="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Long-term debt, Principal payments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:label="us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of derivative instruments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:to="us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vessels [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:to="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Related Party Transactions [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:to="us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock_lbl"/>
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    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfSaleLeasebackTransactionsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Schedule of Sale Leaseback Transactions</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:label="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock"/>
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    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Schedule of Share-based Compensation, Stock Options, Activity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock" xlink:label="us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfStockByClassTable" xlink:label="us-gaap_ScheduleOfStockByClassTable"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleOfStockByClassTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class of Stock [Table]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:label="us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:to="us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Estimated aggregate amortization expense of the above market acquired time charters</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:label="us-gaap_SegmentReportingPolicyPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_SegmentReportingPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Segment Reporting Policy Policy Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:to="us-gaap_SegmentReportingPolicyPolicyTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SegmentReportingPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Segment reporting</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SeniorNotesMember" xlink:label="us-gaap_SeniorNotesMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_SeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Senior Notes [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SeniorNotesMember" xlink:to="us-gaap_SeniorNotesMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Senior Notes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ServiceManagementCosts" xlink:label="us-gaap_ServiceManagementCosts"/>
    <label xlink:type="resource" xlink:label="us-gaap_ServiceManagementCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Service management costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ServiceManagementCosts" xlink:to="us-gaap_ServiceManagementCosts_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ServiceManagementCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Executive director consultancy fees</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SettledLitigationMember" xlink:label="us-gaap_SettledLitigationMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_SettledLitigationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Settled Litigation [Member]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vesting period</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Shares cancelled</label>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Cancelled</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresIntrinsicValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresIntrinsicValue"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresIntrinsicValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cancellation of shares due to termination agreement with former CEO</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresIntrinsicValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresIntrinsicValue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">ShareBased Compensation Arrangement By Share Based Payment Award Equity Instruments OtherThan Options Forfeitures Weighted Average Grant Date Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Cancelled</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Granted Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Granted</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Granted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Number of shares granted</label>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Number of nonvested shares granted during the period</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Unvested at end of period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Unvested at beginning of period</label>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Number of shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Unvested at end of period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Unvested at beginning of period</label>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total fair value of shares vested during the period</label>
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    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Number of shares vested</label>
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    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Option exercise price</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate"/>
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    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fair value assumptions - Risk free interest rate</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Incentive Plans [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Earnings / (loss) per Share</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Additional Shares Authorized</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total shares authorized</label>
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    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Shares reserved for issuance</label>
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    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]</label>
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    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Weighted average remaining term</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Forfeited or expired</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Granted</label>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Number of options granted</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value</label>
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    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Granted</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Weighted Average Grant Date Fair Value</label>
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    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Weighted average exercise price</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Outstanding as of June 30, 2016</label>
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    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Outstanding at January 1, 2016</label>
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    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Award Type [Domain]</label>
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    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price</label>
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    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Exercised</label>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Vested</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Granted</label>
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    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationAwardTrancheTwoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-based Compensation Award, Tranche Two [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationAwardTrancheTwoMember" xlink:to="us-gaap_ShareBasedCompensationAwardTrancheTwoMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationAwardTrancheTwoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vest on March 1, 2018</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:label="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share Based Compensation Option And Incentive Plans Policy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:to="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Stock incentive plan awards</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share Based Compensation Shares Authorized Under Stock Option Plans By Exercise Price Range [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis" xlink:to="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="us-gaap_ShareBasedCompensation"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensation_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock-based compensation (Note 12)</label>
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    <label xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Share based compensation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SharePrice" xlink:label="us-gaap_SharePrice"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share Price</label>
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    <label xlink:type="resource" xlink:label="us-gaap_SharePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fair value of shares</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareRepurchaseProgramAxis" xlink:label="us-gaap_ShareRepurchaseProgramAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareRepurchaseProgramAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share repurchase plan [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareRepurchaseProgramAxis" xlink:to="us-gaap_ShareRepurchaseProgramAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareRepurchaseProgramDomain" xlink:label="us-gaap_ShareRepurchaseProgramDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_ShareRepurchaseProgramDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share repurchase plan [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareRepurchaseProgramDomain" xlink:to="us-gaap_ShareRepurchaseProgramDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Expiration period</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-based Compensation Arrangement By Share-based Payment Award Fair Value Assumptions Expected Term 1</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fair value assumptions - Expected term</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-based Compensation Arrangement By Share-based Payment Award Options Non-vested Number Of Shares [Roll Forward]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Number of options</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Outstanding as of June 30, 2016</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Outstanding at January 1, 2016</label>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-based Compensation Arrangement By Share-based Payment Award Options Non-vested Number Of Shares</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-based Compensation Arrangement By Share-based Payment Award Options Non-vested Options Forfeited Number Of Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Forfeited or expired</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-based Compensation Arrangement By Share-based Payment Award Options Non-vested Options Forfeited Weighted Average Grant Date Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Forfeited or expired</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-based Compensation Arrangement By Share-based Payment Award Options Non-vested Weighted Average Grant Date Fair Value [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Weighted Average Grant Date Fair Value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Outstanding as of June 30, 2016</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Outstanding at January 1, 2016</label>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-based Compensation Arrangement By Share-based Payment Award Options Non-vested Weighted Average Grant Date Fair Value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Weighted average remaining term for non-vested share option awards</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vested</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vested</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SharesIssuedPricePerShare" xlink:label="us-gaap_SharesIssuedPricePerShare"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharesIssuedPricePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Shares Issued, Price Per Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesIssuedPricePerShare" xlink:to="us-gaap_SharesIssuedPricePerShare_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SharesIssuedPricePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Public offering, price per share</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Significant Accounting Policies Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_SignificantAccountingPoliciesTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Significant accounting policies and recent accounting pronouncements:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds" xlink:label="us-gaap_SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds"/>
    <label xlink:type="resource" xlink:label="us-gaap_SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Financed cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds" xlink:to="us-gaap_SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Vessel price</label>
    <label xlink:type="resource" xlink:label="us-gaap_SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Contracted sale / purchase price</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SignificantAcquisitionsAndDisposalsByTransactionAxis" xlink:label="us-gaap_SignificantAcquisitionsAndDisposalsByTransactionAxis"/>
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    <label xlink:type="resource" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Consolidated Statement of Stockholders' Equity</label>
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    <label xlink:type="resource" xlink:label="us-gaap_StatementTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Statement [Table]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesAcquisitions" xlink:label="us-gaap_StockIssuedDuringPeriodSharesAcquisitions"/>
    <label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Issued During Period Shares Acquisitions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesAcquisitions" xlink:to="us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Shares to acquire vessels</label>
    <label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Issuance of common stock Excel Transactions, shares</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesIssuedForNoncashConsideration" xlink:label="us-gaap_StockIssuedDuringPeriodSharesIssuedForNoncashConsideration"/>
    <label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesIssuedForNoncashConsideration_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Issued During Period Shares Issued For Non cash Consideration</label>
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    <label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesIssuedForNoncashConsideration_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Stock issued for vessel acquisition</label>
    <label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesIssuedForNoncashConsideration_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Number of common stock shares issued for vessel acquisition</label>
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    <label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Issued During Period, Shares, Issued for Services</label>
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    <label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Sshares for commission to Oceanbulk Maritime, shares</label>
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    <label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Issuance of common stock, shares</label>
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    <label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesPurchaseOfAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Issuance of common stock to TMT, shares</label>
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    <label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValueAcquisitions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Issued During Period Value Acquisitions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:to="us-gaap_StockIssuedDuringPeriodValueAcquisitions_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValueAcquisitions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Value of common shares issued for acquisition of Heron Vessels</label>
    <label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValueAcquisitions_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Issuance of common stock Excel Transactions, value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueIssuedForNoncashConsiderations" xlink:label="us-gaap_StockIssuedDuringPeriodValueIssuedForNoncashConsiderations"/>
    <label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValueIssuedForNoncashConsiderations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Value of common stock shares issued for vessel acquisition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueIssuedForNoncashConsiderations" xlink:to="us-gaap_StockIssuedDuringPeriodValueIssuedForNoncashConsiderations_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueIssuedForServices" xlink:label="us-gaap_StockIssuedDuringPeriodValueIssuedForServices"/>
    <label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValueIssuedForServices_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Issued During Period, Value, Issued for Services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueIssuedForServices" xlink:to="us-gaap_StockIssuedDuringPeriodValueIssuedForServices_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValueIssuedForServices_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Shares for commission to Oceanbulk Maritime, value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues"/>
    <label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Issuance of common stock, value</label>
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    <label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Issuance of common stock (Note 9), value</label>
    <label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Public offering</label>
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    <label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValuePurchaseOfAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Issuance of common stock to TMT, value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValuePurchaseOfAssets" xlink:to="us-gaap_StockIssuedDuringPeriodValuePurchaseOfAssets_lbl"/>
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    <label xlink:type="resource" xlink:label="us-gaap_StockRepurchaseProgramAuthorizedAmount1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share repurchase plan - authorized amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchaseProgramAuthorizedAmount1" xlink:to="us-gaap_StockRepurchaseProgramAuthorizedAmount1_lbl"/>
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    <label xlink:type="resource" xlink:label="us-gaap_StockholdersEquityReverseStockSplit_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Description of the reverse stock split</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockholdersEquityTotalMember" xlink:label="us-gaap_StockholdersEquityTotalMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_StockholdersEquityTotalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stockholders Equity Total Member</label>
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    <label xlink:type="resource" xlink:label="us-gaap_SubsequentEventLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Subsequent Events [Line Items]</label>
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    <label xlink:type="resource" xlink:label="us-gaap_SubsequentEventMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Subsequent Event [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventMember" xlink:to="us-gaap_SubsequentEventMember_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTable" xlink:to="us-gaap_SubsequentEventTable_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTypeAxis" xlink:to="us-gaap_SubsequentEventTypeAxis_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTypeDomain" xlink:to="us-gaap_SubsequentEventTypeDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SubsequentEventsAbstract" xlink:label="us-gaap_SubsequentEventsAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_SubsequentEventsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Subsequent Events [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsAbstract" xlink:to="us-gaap_SubsequentEventsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SubsequentEventsTextBlock" xlink:label="us-gaap_SubsequentEventsTextBlock"/>
    <label xlink:type="resource" xlink:label="us-gaap_SubsequentEventsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Subsequent Events [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsTextBlock" xlink:to="us-gaap_SubsequentEventsTextBlock_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SubsequentEventsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Subsequent Events:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SubsidiaryOrEquityMethodInvesteeCumulativePercentageOwnershipAfterAllTransactions" xlink:label="us-gaap_SubsidiaryOrEquityMethodInvesteeCumulativePercentageOwnershipAfterAllTransactions"/>
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    <label xlink:type="resource" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash paid during the period for:</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SwapMember" xlink:label="us-gaap_SwapMember"/>
    <label xlink:type="resource" xlink:label="us-gaap_SwapMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Swap [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SwapMember" xlink:to="us-gaap_SwapMember_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_SwapMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Swap</label>
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    <label xlink:type="resource" xlink:label="us-gaap_TitleOfIndividualAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Title of Individual [Axis]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_TitleOfIndividualWithRelationshipToEntityDomain" xlink:label="us-gaap_TitleOfIndividualWithRelationshipToEntityDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_TitleOfIndividualWithRelationshipToEntityDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Relationship to Entity [Domain]</label>
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    <label xlink:type="resource" xlink:label="us-gaap_TransactionDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Transaction [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TransactionDomain" xlink:to="us-gaap_TransactionDomain_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_lbl"/>
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    <label xlink:type="resource" xlink:label="us-gaap_TreasuryStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Treasury Stock [Member]</label>
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    <label xlink:type="resource" xlink:label="us-gaap_TreasuryStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Treasury Stock</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TypeOfArrangementDomain" xlink:to="us-gaap_TypeOfArrangementDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_UnbilledReceivablesNotBillableAtBalanceSheetDateAbstract" xlink:label="us-gaap_UnbilledReceivablesNotBillableAtBalanceSheetDateAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_UnbilledReceivablesNotBillableAtBalanceSheetDateAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unbilled Receivables Not Billable At Balance Sheet Date Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnbilledReceivablesNotBillableAtBalanceSheetDateAbstract" xlink:to="us-gaap_UnbilledReceivablesNotBillableAtBalanceSheetDateAbstract_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_UnbilledReceivablesNotBillableAtBalanceSheetDateAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Years ending December 31,</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_UnrealizedGainLossOnDerivatives" xlink:label="us-gaap_UnrealizedGainLossOnDerivatives"/>
    <label xlink:type="resource" xlink:label="us-gaap_UnrealizedGainLossOnDerivatives_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Change in value of derivatives</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrealizedGainLossOnDerivatives" xlink:to="us-gaap_UnrealizedGainLossOnDerivatives_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_UnrealizedGainLossOnDerivatives_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total Gains/(Losses) recognized</label>
    <label xlink:type="resource" xlink:label="us-gaap_UnrealizedGainLossOnDerivatives_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Derivatives (Note 19)</label>
    <label xlink:type="resource" xlink:label="us-gaap_UnrealizedGainLossOnDerivatives_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xml:lang="en-US">Unrealized and accrued gain/(loss) on derivatives (Note 14)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss" xlink:label="us-gaap_UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss"/>
    <label xlink:type="resource" xlink:label="us-gaap_UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unrealized Gain Loss On Interest Rate Cash Flow Hedges Pretax Accumulated Other Comprehensive Income Loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss" xlink:to="us-gaap_UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Unrealized losses from cash flow hedges during the period before reclassifications</label>
    <label xlink:type="resource" xlink:label="us-gaap_UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Unrealized loss from hedging interest rate swaps recognized in Other comprehensive income/(loss) before reclassifications</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_UnrecordedUnconditionalPurchaseObligationAbstract" xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Contractual Obligations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrecordedUnconditionalPurchaseObligationAbstract" xlink:to="us-gaap_UnrecordedUnconditionalPurchaseObligationAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary" xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary"/>
    <label xlink:type="resource" xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unrecorded Unconditional Purchase Obligation, Due in Next Twelve Months</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary" xlink:to="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Newbuildings periodic installments, next twelve months</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary" xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary"/>
    <label xlink:type="resource" xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unrecorded Unconditional Purchase Obligation, Due within Two Years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary" xlink:to="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Newbuildings periodic installments, 2018</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary" xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary"/>
    <label xlink:type="resource" xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unrecorded Unconditional Purchase Obligation, Due within Three Years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary" xlink:to="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Newbuildings periodic installments, 2019</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount" xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount"/>
    <label xlink:type="resource" xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unrecorded Unconditional Purchase Obligation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount" xlink:to="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Unrecorded unconditional, Purchase price obligation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_UnrecordedUnconditionalPurchaseObligationDueInNextRollingTwelveMonths" xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationDueInNextRollingTwelveMonths"/>
    <label xlink:type="resource" xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationDueInNextRollingTwelveMonths_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unrecorded Unconditional Purchase Obligation Due In Next Rolling Twelve Months</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrecordedUnconditionalPurchaseObligationDueInNextRollingTwelveMonths" xlink:to="us-gaap_UnrecordedUnconditionalPurchaseObligationDueInNextRollingTwelveMonths_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationDueInNextRollingTwelveMonths_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Newbuildings periodic installments, next twelve months</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_UnrecordedUnconditionalPurchaseObligationDueInRollingYearTwo" xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationDueInRollingYearTwo"/>
    <label xlink:type="resource" xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationDueInRollingYearTwo_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unrecorded Unconditional Purchase Obligation Due In Rolling Year Two</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrecordedUnconditionalPurchaseObligationDueInRollingYearTwo" xlink:to="us-gaap_UnrecordedUnconditionalPurchaseObligationDueInRollingYearTwo_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationDueInRollingYearTwo_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Newbuildings periodic installments, 2017</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_UseOfEstimates" xlink:label="us-gaap_UseOfEstimates"/>
    <label xlink:type="resource" xlink:label="us-gaap_UseOfEstimates_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Use Of Estimates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UseOfEstimates" xlink:to="us-gaap_UseOfEstimates_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_UseOfEstimates_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Use of estimates</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_VariableInterestEntityOwnershipPercentage" xlink:label="us-gaap_VariableInterestEntityOwnershipPercentage"/>
    <label xlink:type="resource" xlink:label="us-gaap_VariableInterestEntityOwnershipPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Variable Interest Entity Ownership Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableInterestEntityOwnershipPercentage" xlink:to="us-gaap_VariableInterestEntityOwnershipPercentage_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_VariableInterestEntityOwnershipPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Voting percentage</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_VestingAxis" xlink:label="us-gaap_VestingAxis"/>
    <label xlink:type="resource" xlink:label="us-gaap_VestingAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vesting [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VestingAxis" xlink:to="us-gaap_VestingAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_VestingDomain" xlink:label="us-gaap_VestingDomain"/>
    <label xlink:type="resource" xlink:label="us-gaap_VestingDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vesting [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VestingDomain" xlink:to="us-gaap_VestingDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_WarrantsAndRightsNoteDisclosureAbstract" xlink:label="us-gaap_WarrantsAndRightsNoteDisclosureAbstract"/>
    <label xlink:type="resource" xlink:label="us-gaap_WarrantsAndRightsNoteDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Warrants [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WarrantsAndRightsNoteDisclosureAbstract" xlink:to="us-gaap_WarrantsAndRightsNoteDisclosureAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:label="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment"/>
    <label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Weighted Average Number Diluted Shares Outstanding Adjustment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:to="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Dilutive effect of non vested shares</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Weighted average number of shares outstanding, diluted (Note 14)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Weighted average common shares outstanding, diluted</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted" xlink:label="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted"/>
    <label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Weighted average number of shares outstanding, basic and diluted (Note 11)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted" xlink:to="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Weighted average number of shares outstanding, basic and diluted</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
    <label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Weighted average number of shares outstanding, basic (Note 14)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Weighted average common shares outstanding, basic</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_WriteOffOfDeferredDebtIssuanceCost" xlink:label="us-gaap_WriteOffOfDeferredDebtIssuanceCost"/>
    <label xlink:type="resource" xlink:label="us-gaap_WriteOffOfDeferredDebtIssuanceCost_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xml:lang="en-US">Write-off of deferred fiance costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WriteOffOfDeferredDebtIssuanceCost" xlink:to="us-gaap_WriteOffOfDeferredDebtIssuanceCost_lbl"/>
    <label xlink:type="resource" xlink:label="us-gaap_WriteOffOfDeferredDebtIssuanceCost_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss on debt extinguishment (Note 8)</label>
    <label xlink:type="resource" xlink:label="us-gaap_WriteOffOfDeferredDebtIssuanceCost_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Loss on debt extinguishment</label>
    <label xlink:type="resource" xlink:label="us-gaap_WriteOffOfDeferredDebtIssuanceCost_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Write off of unamortized deferred financing fees</label>
    <label xlink:type="resource" xlink:label="us-gaap_WriteOffOfDeferredDebtIssuanceCost_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Loss on debt extinguishment (Note 8)</label>
  </labelLink>
</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>9
<FILENAME>sblk-20160630_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by Fujitsu Interstage XWand B0217 -->
<linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink">
  <roleRef roleURI="http://www.starbulk.com/20160630/role/ConsolidatedBalanceSheet" xlink:type="simple" xlink:href="sblk-20160630.xsd#ConsolidatedBalanceSheets"/>
  <roleRef roleURI="http://www.starbulk.com/20160630/role/ConsolidatedBalanceSheetParentheticals" xlink:type="simple" xlink:href="sblk-20160630.xsd#StatementOfFinancialPosistionParentheticals"/>
  <roleRef roleURI="http://www.starbulk.com/20160630/role/ConsolidatedStatementsOfOperations" xlink:type="simple" xlink:href="sblk-20160630.xsd#ConsolidatedStatementsOfOperations"/>
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel"/>
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel"/>
  <roleRef roleURI="http://www.starbulk.com/20160630/role/ConsolidatedStatementsOfStockholdersEquity" xlink:type="simple" xlink:href="sblk-20160630.xsd#ConsolidatedStatementsOfStockholdersEquity"/>
  <roleRef roleURI="http://www.starbulk.com/20160630/role/ConsolidatedStatementsOfCashFlows" xlink:type="simple" xlink:href="sblk-20160630.xsd#ConsolidatedStatementsOfCashFlows"/>
  <roleRef roleURI="http://www.starbulk.com/20160630/role/BasisOfPresentationAndGeneralInformation" xlink:type="simple" xlink:href="sblk-20160630.xsd#Disclosure-BasisOfPresentationAndGeneralInformation"/>
  <roleRef roleURI="http://www.starbulk.com/20160630/role/SignificantAccountingPoliciesAndRecentAccountingPronouncements" xlink:type="simple" xlink:href="sblk-20160630.xsd#Disclosure-SignificantAccountingPolicies"/>
  <roleRef roleURI="http://www.starbulk.com/20160630/role/TransactionsWithRelatedParties" xlink:type="simple" xlink:href="sblk-20160630.xsd#Disclosure-Transactionswithrelatedparties"/>
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<head>
<title></title>
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<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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6828395488">
<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">6 Months Ended</th>
</tr>
<tr><th class="th">
<div>Jun. 30, 2016 </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">6-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Jun. 30,  2016<span></span>
</td>
</tr>
<tr 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">43,955,659<span></span>
</td>
</tr>
<tr 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">2016<span></span>
</td>
</tr>
<tr 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">Q2<span></span>
</td>
</tr>
<tr 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>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td>xbrli:booleanItemType</td>
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<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
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<td>xbrli:gMonthDayItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_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>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>dei:fiscalPeriodItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<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>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<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>
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<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>
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<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: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>
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<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>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
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<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>
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<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>
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<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>12
<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">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6829290704">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Balance Sheets (unaudited) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2016</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_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">$ 140,555<span></span>
</td>
<td class="nump">$ 208,056<span></span>
</td>
</tr>
<tr class="re">
<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">5,122<span></span>
</td>
<td class="nump">3,769<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Trade accounts receivable</a></td>
<td class="nump">10,634<span></span>
</td>
<td class="nump">10,889<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Inventories (Note 4)</a></td>
<td class="nump">16,882<span></span>
</td>
<td class="nump">14,247<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_OtherReceivablesNetCurrent', window );">Due from managers</a></td>
<td class="nump">3,585<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_DueFromRelatedPartiesCurrent', window );">Due from related parties (Note 3)</a></td>
<td class="nump">672<span></span>
</td>
<td class="nump">1,209<span></span>
</td>
</tr>
<tr class="ro">
<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">7,106<span></span>
</td>
<td class="nump">8,604<span></span>
</td>
</tr>
<tr class="re">
<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">8,983<span></span>
</td>
<td class="nump">5,284<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total Current Assets</a></td>
<td class="nump">193,539<span></span>
</td>
<td class="nump">252,058<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetAbstract', window );"><strong>FIXED ASSETS</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConstructionInProgressGross', window );">Advances for vessels under construction and acquisition of vessels (Note 6)</a></td>
<td class="nump">55,892<span></span>
</td>
<td class="nump">127,910<span></span>
</td>
</tr>
<tr class="re">
<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">1,802,507<span></span>
</td>
<td class="nump">1,757,552<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Total Fixed Assets</a></td>
<td class="nump">1,858,399<span></span>
</td>
<td class="nump">1,885,462<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsNoncurrentAbstract', window );"><strong>OTHER NON-CURRENT ASSETS</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermInvestments', window );">Long term investment (Note 3)</a></td>
<td class="nump">913<span></span>
</td>
<td class="nump">844<span></span>
</td>
</tr>
<tr class="re">
<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">8,785<span></span>
</td>
<td class="nump">10,228<span></span>
</td>
</tr>
<tr class="ro">
<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">0<span></span>
</td>
<td class="nump">254<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsNoncurrent', window );">Other non-current assets (Note 6)</a></td>
<td class="nump">1,604<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_Assets', window );">TOTAL ASSETS</a></td>
<td class="nump">2,063,240<span></span>
</td>
<td class="nump">2,148,846<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>CURRENT LIABILITIES</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansPayableToBankCurrent', window );">Current portion of long term debt (Note 8)</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">127,141<span></span>
</td>
</tr>
<tr class="re">
<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 (Notes 5 and 8)</a></td>
<td class="nump">9,137<span></span>
</td>
<td class="nump">4,490<span></span>
</td>
</tr>
<tr class="ro">
<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">9,409<span></span>
</td>
<td class="nump">9,436<span></span>
</td>
</tr>
<tr class="re">
<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">415<span></span>
</td>
<td class="nump">422<span></span>
</td>
</tr>
<tr class="ro">
<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">0<span></span>
</td>
<td class="nump">2,291<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_AccruedLiabilitiesCurrent', window );">Accrued liabilities</a></td>
<td class="nump">11,185<span></span>
</td>
<td class="nump">14,773<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_DerivativeLiabilitiesCurrent', window );">Derivative liability, current (Note 14)</a></td>
<td class="nump">5,638<span></span>
</td>
<td class="nump">5,931<span></span>
</td>
</tr>
<tr class="re">
<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">2,637<span></span>
</td>
<td class="nump">2,465<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total Current Liabilities</a></td>
<td class="nump">38,421<span></span>
</td>
<td class="nump">166,949<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesNoncurrentAbstract', window );"><strong>NON-CURRENT LIABILITIES</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MediumtermNotesNoncurrent', window );">8.00% 2019 Notes, net of unamortized deferred finance fees of $1,677 and $1,461, respectively (Note 8)</a></td>
<td class="nump">48,539<span></span>
</td>
<td class="nump">48,323<span></span>
</td>
</tr>
<tr class="re">
<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, net of current portion and unamortized deferred finance fees of $14,360 and $9,992, respectively (Note 8)</a></td>
<td class="nump">761,597<span></span>
</td>
<td class="nump">720,237<span></span>
</td>
</tr>
<tr class="ro">
<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 (Notes 5 and 8)</a></td>
<td class="nump">153,596<span></span>
</td>
<td class="nump">75,030<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_DerivativeLiabilitiesNoncurrent', window );">Derivative liability, non current (Note 14)</a></td>
<td class="nump">4,879<span></span>
</td>
<td class="nump">2,518<span></span>
</td>
</tr>
<tr class="ro">
<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">524<span></span>
</td>
<td class="nump">431<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">1,007,556<span></span>
</td>
<td class="nump">1,013,488<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingencies', window );">COMMITMENTS &amp; CONTINGENCIES (Note 13)</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, 2015 and June 30, 2016 (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, $0.01 par value, 300,000,000 shares authorized; 43,821,114 and 43,955,659 shares issued and outstanding at December 31, 2015 and June 30, 2016, respectively (Note 9)</a></td>
<td class="nump">440<span></span>
</td>
<td class="nump">438<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapitalCommonStock', window );">Additional paid in capital</a></td>
<td class="nump">2,010,723<span></span>
</td>
<td class="nump">2,008,440<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive loss (Note 14)</a></td>
<td class="num">(1,479)<span></span>
</td>
<td class="num">(1,216)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Accumulated deficit</a></td>
<td class="num">(954,000)<span></span>
</td>
<td class="num">(872,304)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total Stockholders' Equity</a></td>
<td class="nump">1,055,684<span></span>
</td>
<td class="nump">1,135,358<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY</a></td>
<td class="nump">$ 2,063,240<span></span>
</td>
<td class="nump">$ 2,148,846<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<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))<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> -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_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=66004124&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=66004124&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=66004124&amp;loc=SL7669686-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(12))<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 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(11))<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_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(19))<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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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=66902209&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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 13.A.3(b).Q1(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<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> -Subparagraph (b)<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 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=65893310&amp;loc=d3e214044-122780<br><br>Reference 4: 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.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br><br>Reference 5: 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.3(b).Q2)<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br><br>Reference 6: 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.3(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br><br>Reference 7: 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.3(c).Q3)<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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=73719730&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=73719730&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=73719730&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=73719730&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 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 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 (d)<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 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 FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(11))<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_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=66006027&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=68049868&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 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(23))<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(a)(25))<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 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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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(19))<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_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 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 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(a)(16)(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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 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(a)(16)(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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>Amount of current assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><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_OtherAssetsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 noncurrent assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><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_OtherAssetsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>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>Amount of liabilities classified as other, due 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_OtherReceivablesNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allowance, of receivables classified as other, 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>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherReceivablesNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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 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><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(7))<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 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_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 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><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(a)(8))<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 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_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 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(23)(a)(4))<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 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(30)(a)(3))<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_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 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30))<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 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 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(31))<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 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_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_StockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
</tr>
<tr>
<td style="padding-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>
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</table></div>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6829421888">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Balance Sheets (unaudited) (Parentheticals) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2016</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_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet', window );">Deferred finance fees</a></td>
<td class="nump">$ 11,453<span></span>
</td>
<td class="nump">$ 16,037<span></span>
</td>
</tr>
<tr class="rh">
<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="re">
<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>
</tr>
<tr class="ro">
<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="re">
<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>
</tr>
<tr class="ro">
<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="ro">
<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>
</tr>
<tr class="re">
<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="ro">
<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">43,955,659<span></span>
</td>
<td class="nump">43,821,114<span></span>
</td>
</tr>
<tr class="re">
<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">43,955,659<span></span>
</td>
<td class="nump">43,821,114<span></span>
</td>
</tr>
<tr class="rh">
<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_MediumTermNotesMember', 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_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet', window );">Deferred finance fees</a></td>
<td class="nump">$ 1,461<span></span>
</td>
<td class="nump">$ 1,677<span></span>
</td>
</tr>
<tr class="rh">
<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_LongTermDebtMember', window );">Long term debt</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_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet', window );">Deferred finance fees</a></td>
<td class="nump">$ 9,992<span></span>
</td>
<td class="nump">$ 14,360<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_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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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 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 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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
</tr>
<tr>
<td style="padding-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_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 unamortized debt discount (premium) 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 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=64930785&amp;loc=d3e28555-108399<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_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>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_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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
</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_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_LongtermDebtTypeAxis=us-gaap_MediumTermNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( 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_MediumTermNotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></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_LongTermDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( 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_LongTermDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><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>
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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">
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6828761616">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Unaudited Interim Condensed Consolidated Statements of Operations - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2016</div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VoyageRevenues', window );">Voyage revenues</a></td>
<td class="nump">$ 98,862<span></span>
</td>
<td class="nump">$ 101,182<span></span>
</td>
</tr>
<tr class="re">
<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">91<span></span>
</td>
<td class="nump">136<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">98,953<span></span>
</td>
<td class="nump">101,318<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>Expenses</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VoyageExpenses', window );">Voyage expenses</a></td>
<td class="nump">37,284<span></span>
</td>
<td class="nump">30,637<span></span>
</td>
</tr>
<tr class="re">
<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 expense</a></td>
<td class="nump">1,918<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</a></td>
<td class="nump">49,364<span></span>
</td>
<td class="nump">56,964<span></span>
</td>
</tr>
<tr class="re">
<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">1,583<span></span>
</td>
<td class="nump">6,945<span></span>
</td>
</tr>
<tr class="ro">
<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">40,847<span></span>
</td>
<td class="nump">38,519<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfessionalAndContractServicesExpense', window );">Management fees (Note 3 and Note 10)</a></td>
<td class="nump">3,911<span></span>
</td>
<td class="nump">4,063<span></span>
</td>
</tr>
<tr class="ro">
<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">13,298<span></span>
</td>
<td class="nump">11,153<span></span>
</td>
</tr>
<tr class="re">
<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 and Note 6)</a></td>
<td class="nump">6,694<span></span>
</td>
<td class="nump">28,829<span></span>
</td>
</tr>
<tr class="ro">
<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">0<span></span>
</td>
<td class="nump">2,114<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossFromPriceRiskManagementActivity', window );">Loss / (gain) on derivative instruments</a></td>
<td class="num">(283)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherExpenses', window );">Other operational loss</a></td>
<td class="nump">109<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_OtherIncome', window );">Other operational gain</a></td>
<td class="num">(50)<span></span>
</td>
<td class="num">(590)<span></span>
</td>
</tr>
<tr class="ro">
<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 / (gain) on sale of vessels (Note 5)</a></td>
<td class="nump">21<span></span>
</td>
<td class="nump">13,389<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_OperatingExpenses', window );">Total Operating Expenses</a></td>
<td class="nump">154,696<span></span>
</td>
<td class="nump">192,023<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_OperatingIncomeLoss', window );">Operating income / (loss)</a></td>
<td class="num">(55,743)<span></span>
</td>
<td class="num">(90,705)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpenseAbstract', window );"><strong>Other Income/ (Expenses):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">(19,694)<span></span>
</td>
<td class="num">(13,871)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestAndOtherIncome', window );">Interest and other income/(loss)</a></td>
<td class="nump">154<span></span>
</td>
<td class="nump">828<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnDerivativeInstrumentsNetPretax', window );">Gain / (Loss) on derivative financial instrument, net (Note 14)</a></td>
<td class="num">(4,681)<span></span>
</td>
<td class="num">(688)<span></span>
</td>
</tr>
<tr class="re">
<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">(1,801)<span></span>
</td>
<td class="num">(974)<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_NonoperatingIncomeExpense', window );">Total other expenses, net</a></td>
<td class="num">(26,022)<span></span>
</td>
<td class="num">(14,705)<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_ProfitLoss', window );">Income/(Loss) before equity in income of investee</a></td>
<td class="num">(81,765)<span></span>
</td>
<td class="num">(105,410)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Equity in income of investee</a></td>
<td class="nump">69<span></span>
</td>
<td class="nump">213<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_NetIncomeLoss', window );">Net income / (loss)</a></td>
<td class="num">$ (81,696)<span></span>
</td>
<td class="num">$ (105,197)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDiluted', window );">Earnings / (Loss) per share, basic and diluted (Note 11)</a></td>
<td class="num">$ (1.86)<span></span>
</td>
<td class="num">$ (3.06)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted', window );">Weighted average number of shares outstanding, basic and diluted (Note 11)</a></td>
<td class="nump">43,880,713<span></span>
</td>
<td class="nump">34,347,332<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=68055307&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=66902209&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_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=63488584&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=66902209&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 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<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_Depreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAndDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements.  Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period.  Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasicAndDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossFromPriceRiskManagementActivity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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) incurred in risk management 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 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=64837297&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_GainLossFromPriceRiskManagementActivity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<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_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=66902209&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=64837297&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=66902209&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=66902209&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=63488584&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 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=63488584&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 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<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=66902209&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 323<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=66022249&amp;loc=d3e33749-111570<br><br>Reference 5: 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(13)(f))<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_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=63488584&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=66902209&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 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 4: 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(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<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(18))<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> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 7: 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(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&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_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=63488584&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>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
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<td>duration</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>
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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>duration</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>Amount of expense classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><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=63488584&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>Amount of revenue and income classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><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 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=65897068&amp;loc=SL4591552-111686<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 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=68079674&amp;loc=SL4569616-111683<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 (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=64809438&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=65897068&amp;loc=SL4591551-111686<br><br>Reference 5: 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)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=64809438&amp;loc=SL4573702-111684<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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=63488584&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>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period 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_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>
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</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted</td>
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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>na</td>
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<td>duration</td>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6829292800">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Unaudited Interim Condensed Consolidated Statements of Comprehensive Income - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2016</div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract', window );"><strong>Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income / (loss)</a></td>
<td class="num">$ (81,696)<span></span>
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<td class="num">$ (105,197)<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_sblk_OtherComprehensiveIncomeLossAbstract', window );"><strong>Other comprehensive loss:</strong></a></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_UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss', window );">Unrealized loss from hedging interest rate swaps recognized in Other comprehensive income/(loss) before reclassifications</a></td>
<td class="num">(972)<span></span>
</td>
<td class="num">(4,827)<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_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecreaseAbstract', window );"><strong>Less:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax', window );">Reclassification adjustments of interest rate swap loss</a></td>
<td class="nump">709<span></span>
</td>
<td class="nump">1,718<span></span>
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<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_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive loss</a></td>
<td class="num">(263)<span></span>
</td>
<td class="num">(3,109)<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_ComprehensiveIncomeNetOfTax', window );">Comprehensive income / (loss)</a></td>
<td class="num">$ (81,959)<span></span>
</td>
<td class="num">$ (108,306)<span></span>
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</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_OtherComprehensiveIncomeLossAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_OtherComprehensiveIncomeLossAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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=66004124&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>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTax</td>
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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>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</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=66902209&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 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 4: 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(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<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(18))<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> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 7: 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(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&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_NetIncomeLoss</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_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecreaseAbstract</td>
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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=66004124&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=66004124&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=66004921&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>
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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_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract</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>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=66004124&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=64837297&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=66004124&amp;loc=d3e637-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount 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=64837297&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_UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss</td>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6813490768">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Unaudited Interim Condensed Consolidated Statements of Stockholders' Equity - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Total</div></th>
<th class="th"><div>Common Stock</div></th>
<th class="th"><div>Additional Paid-in Capital</div></th>
<th class="th"><div>Other Comprehensive loss</div></th>
<th class="th"><div>Accumulated deficit</div></th>
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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_StockholdersEquity', window );">BALANCE, value at Dec. 31, 2014</a></td>
<td class="nump">$ 1,154,302<span></span>
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<td class="nump">$ 219<span></span>
</td>
<td class="nump">$ 1,568,588<span></span>
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<td class="num">$ (378)<span></span>
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<td class="num">$ (414,127)<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_CommonStockSharesIssued', window );">BALANCE, shares at Dec. 31, 2014</a></td>
<td class="text">&#160;<span></span>
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<td class="nump">21,885,247<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="num">(105,197)<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="num">(105,197)<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_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive income / (loss)</a></td>
<td class="num">(3,109)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,109)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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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_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Amortization of stock-based compensation (Note 12)</a></td>
<td class="nump">1,407<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,407<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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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_StockIssuedDuringPeriodValueNewIssues', window );">Issuance of common stock (Note 9), value</a></td>
<td class="nump">417,797<span></span>
</td>
<td class="nump">$ 210<span></span>
</td>
<td class="nump">417,587<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_StockIssuedDuringPeriodSharesNewIssues', window );">Issuance of common stock (Note 9), shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,050,084<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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<tr class="ro">
<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 );">Shares for commission to Oceanbulk Maritime, value</a></td>
<td class="nump">519<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">519<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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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_StockIssuedDuringPeriodValueAcquisitions', window );">Issuance of common stock Excel Transactions, value</a></td>
<td class="nump">19,308<span></span>
</td>
<td class="nump">$ 9<span></span>
</td>
<td class="nump">19,299<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesAcquisitions', window );">Issuance of common stock Excel Transactions, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">851,577<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="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">BALANCE, value at Jun. 30, 2015</a></td>
<td class="nump">1,485,027<span></span>
</td>
<td class="nump">$ 438<span></span>
</td>
<td class="nump">2,007,400<span></span>
</td>
<td class="num">(3,487)<span></span>
</td>
<td class="num">(519,324)<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_CommonStockSharesIssued', window );">BALANCE, shares at Jun. 30, 2015</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">43,786,908<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="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">$ 438<span></span>
</td>
<td class="nump">2,008,440<span></span>
</td>
<td class="num">(1,216)<span></span>
</td>
<td class="num">(872,304)<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">43,821,114<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">(81,696)<span></span>
</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">(81,696)<span></span>
</td>
</tr>
<tr class="ro">
<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">(263)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(263)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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 );">Amortization of stock-based compensation (Note 12), value</a></td>
<td class="nump">2,285<span></span>
</td>
<td class="nump">$ 2<span></span>
</td>
<td class="nump">2,283<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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 );">Amortization of stock-based compensation (Note 12), shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">134,545<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">BALANCE, value at Jun. 30, 2016</a></td>
<td class="nump">$ 1,055,684<span></span>
</td>
<td class="nump">$ 440<span></span>
</td>
<td class="nump">$ 2,010,723<span></span>
</td>
<td class="num">$ (1,479)<span></span>
</td>
<td class="num">$ (954,000)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">BALANCE, shares at Jun. 30, 2016</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">43,955,659<span></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=66904339&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=65896087&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=65896087&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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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=66902209&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 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 4: 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(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<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(18))<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> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 7: 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(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&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_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=66004124&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=66004124&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=66004921&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 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 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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesAcquisitions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of new stock issued during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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 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 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(28))<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 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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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 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 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 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 4: 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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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 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 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 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 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_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 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30))<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 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 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(31))<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 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_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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<td><strong> Data Type:</strong></td>
<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>
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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>
<td></td>
</tr>
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<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>
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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>
<td></td>
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<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6813268192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2016</div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Cash Flows from Operating Activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income / (loss)</a></td>
<td class="num">$ (81,696)<span></span>
</td>
<td class="num">$ (105,197)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net loss to net cash provided by/(used in) operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Depreciation', window );">Depreciation</a></td>
<td class="nump">40,847<span></span>
</td>
<td class="nump">38,519<span></span>
</td>
</tr>
<tr class="re">
<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">254<span></span>
</td>
<td class="nump">7,071<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCosts', window );">Amortization of deferred finance charges (Note 8)</a></td>
<td class="nump">1,561<span></span>
</td>
<td class="nump">1,199<span></span>
</td>
</tr>
<tr class="re">
<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">1,801<span></span>
</td>
<td class="nump">974<span></span>
</td>
</tr>
<tr class="ro">
<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">0<span></span>
</td>
<td class="nump">2,114<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Vessel impairment loss (Note 5 and Note 6)</a></td>
<td class="nump">6,694<span></span>
</td>
<td class="nump">28,829<span></span>
</td>
</tr>
<tr class="ro">
<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 / (gain) on sale of vessels (Note 5)</a></td>
<td class="nump">21<span></span>
</td>
<td class="nump">13,389<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation (Note 12)</a></td>
<td class="nump">2,285<span></span>
</td>
<td class="nump">1,407<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrealizedGainLossOnDerivatives', window );">Unrealized and accrued gain/(loss) on derivatives (Note 14)</a></td>
<td class="nump">1,805<span></span>
</td>
<td class="nump">59<span></span>
</td>
</tr>
<tr class="re">
<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">130<span></span>
</td>
<td class="nump">34<span></span>
</td>
</tr>
<tr class="ro">
<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">(37)<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 of income of investee</a></td>
<td class="num">(69)<span></span>
</td>
<td class="num">(213)<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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">255<span></span>
</td>
<td class="nump">6,449<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInInventories', window );">Inventories</a></td>
<td class="num">(2,267)<span></span>
</td>
<td class="num">(2,323)<span></span>
</td>
</tr>
<tr class="re">
<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="nump">350<span></span>
</td>
<td class="num">(1,069)<span></span>
</td>
</tr>
<tr class="ro">
<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="nump">537<span></span>
</td>
<td class="num">(426)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherReceivables', window );">Due from managers</a></td>
<td class="num">(3,585)<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_IncreaseDecreaseInOperatingLiabilitiesAbstract', window );"><strong>Increase/(Decrease) in:</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_IncreaseDecreaseInAccountsPayableTrade', window );">Accounts payable</a></td>
<td class="num">(27)<span></span>
</td>
<td class="num">(3,814)<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_IncreaseDecreaseInDueToRelatedPartiesCurrent', window );">Due to related parties</a></td>
<td class="num">(7)<span></span>
</td>
<td class="num">(1,266)<span></span>
</td>
</tr>
<tr class="re">
<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="num">(2,705)<span></span>
</td>
<td class="nump">863<span></span>
</td>
</tr>
<tr class="ro">
<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="num">(2,291)<span></span>
</td>
<td class="nump">4,539<span></span>
</td>
</tr>
<tr class="re">
<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="nump">172<span></span>
</td>
<td class="num">(637)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash provided by / (used in) Operating Activities</a></td>
<td class="num">(35,972)<span></span>
</td>
<td class="num">(9,499)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Cash Flows from Investing Activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Advances for vessels under construction and acquisition of vessels and other assets</a></td>
<td class="num">(388,660)<span></span>
</td>
<td class="num">(317,538)<span></span>
</td>
</tr>
<tr class="re">
<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 sales (Note 5)</a></td>
<td class="nump">362,887<span></span>
</td>
<td class="nump">38,831<span></span>
</td>
</tr>
<tr class="ro">
<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">7,034<span></span>
</td>
<td class="nump">3,487<span></span>
</td>
</tr>
<tr class="re">
<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">(6,944)<span></span>
</td>
<td class="num">(3,304)<span></span>
</td>
</tr>
<tr class="ro">
<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">1,115<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_NetCashProvidedByUsedInInvestingActivities', window );">Net cash provided by / (used in) Investing Activities</a></td>
<td class="num">(24,568)<span></span>
</td>
<td class="num">(278,524)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash Flows from Financing Activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet', window );">Proceeds from bank loans and capital leases</a></td>
<td class="nump">151,763<span></span>
</td>
<td class="nump">266,181<span></span>
</td>
</tr>
<tr class="ro">
<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">(158,699)<span></span>
</td>
<td class="num">(188,226)<span></span>
</td>
</tr>
<tr class="re">
<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">(25)<span></span>
</td>
<td class="num">(8,526)<span></span>
</td>
</tr>
<tr class="ro">
<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">0<span></span>
</td>
<td class="nump">418,771<span></span>
</td>
</tr>
<tr class="re">
<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="nump">0<span></span>
</td>
<td class="num">(974)<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_NetCashProvidedByUsedInFinancingActivities', window );">Net cash provided by / (used in) Financing Activities</a></td>
<td class="num">(6,961)<span></span>
</td>
<td class="nump">487,226<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_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net (decrease) / increase in cash and cash equivalents</a></td>
<td class="num">(67,501)<span></span>
</td>
<td class="nump">199,203<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at beginning of period</a></td>
<td class="nump">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_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at end of the period</a></td>
<td class="nump">140,555<span></span>
</td>
<td class="nump">285,203<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowInformationAbstract', window );"><strong>Cash paid during the period for:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaidNet', window );">Interest</a></td>
<td class="nump">$ 23,279<span></span>
</td>
<td class="nump">$ 19,844<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_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 amortization expense attributable to 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 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=64930785&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 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=66902209&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 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=63488584&amp;loc=d3e20235-122688<br><br>Reference 4: 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_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=68055307&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=66902209&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_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=66902209&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=66902209&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=66902209&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 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<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_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=66902209&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=66902209&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=66902209&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 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=63488584&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 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<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=66902209&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 323<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=66022249&amp;loc=d3e33749-111570<br><br>Reference 5: 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(13)(f))<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_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=66902209&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=66902209&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=66902209&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=66902209&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=66902209&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=66902209&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=66902209&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>Amount of increase (decrease) in obligations classified as other, payable 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 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=66902209&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_IncreaseDecreaseInOtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 receivables classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><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=66902209&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_IncreaseDecreaseInOtherReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<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_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>Amount of increase (decrease) in prepaid expenses, and assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><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=66902209&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=66902209&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=66902209&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=66902209&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=66902209&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=66902209&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=66902209&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=66902209&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=66902209&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 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 4: 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(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<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(18))<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> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 7: 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(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&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_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>Amount of income (expense) included in net income that results in no cash inflow (outflow), classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><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=66902209&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=66902209&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=66902209&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_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=66902209&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=66902209&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=66902209&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_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></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 security instrument that either represents a creditor or an ownership relationship with the holder of the investment security with a maturity of beyond one year or normal operating cycle, if longer. Includes proceeds from (a) debt, (b) capital lease obligations, (c) mandatory redeemable capital securities, and (d) any combination of (a), (b), or (c).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</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),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=66902209&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>
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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>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=66902209&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>
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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 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>
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<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>
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<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=66902209&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">
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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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<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=66902209&amp;loc=d3e3602-108585<br></p></div>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6809996432">
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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">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2016</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_BusinessDescriptionAndBasisOfPresentationTextBlock', window );">Basis of Presentation and General Information:</a></td>
<td class="text"><div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Basis of Presentation and General Information:</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Star Bulk Carriers Corp. (&#147;Star Bulk&#148;) is a shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk was incorporated in the Marshall Islands on December&#160;13, 2006 and maintains executive offices in Athens, Greece.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Star Bulk's common shares started trading on the NASDAQ Global Select Market on December&#160;3, 2007, under the ticker symbol &#147;SBLK.&#148; The accompanying unaudited interim condensed consolidated financial statements include the accounts of Star Bulk and its subsidiaries, which are hereinafter collectively referred to as the &#147;Company,&#148; and have been prepared in accordance with accounting principles generally accepted in the United States of America (&#147;U.S. GAAP&#148;) and applicable rules and regulations of the U.S. Securities and Exchange Commission (the &#147;SEC&#148;) for interim financial information. Accordingly, they do not include all the information and notes required by U.S. GAAP for annual financial statements.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">These unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all normal recurring adjustments considered necessary for a fair presentation of the Company's financial position, results of operations and cash flows for the periods presented. Operating results for the six-month period ended June 30, 2016 are not necessarily indicative of the results that might be expected for the fiscal year ending December&#160;31, 2016.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The unaudited interim condensed consolidated financial statements presented in this report should be read in conjunction with the Company's Annual Report on Form 20-F for the year ended December 31, 2015 (the &#147;2015 20-F Annual Report&#148;). The balance sheet as of December 31, 2015 has been derived from the audited consolidated financial statements as of that date, but, pursuant to the requirements for interim financial information, does not include all of the information and footnotes required by U.S. GAAP for complete financial statements.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Effective June 20, 2016, the Company effected a 5-for-1 reverse stock split on its issued and outstanding common stock (Note 9). All share and per share amounts disclosed in the accompanying financial statements give effect to this reverse stock split retroactively, for all periods presented. </font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Unless otherwise defined herein, capitalized words and expressions used herein shall have the same meanings ascribed to them in the Company's 2015 20-F Annual Report.</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Subsidiaries, Owned Vessels and Newbuilding Contracts</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Below is the list of Star Bulk's subsidiaries, all of which are wholly owned, as of June 30, 2016:</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Vessels in operation at June 30, 2016:</b></i></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:right;text-indent:0.0px;"></div>
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  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:181px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:136px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Date</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-indent:0.0px;">&#160;</div></td>
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  <tr>
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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:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Wholly Owned Subsidiaries</b></font></div></td>
    <td valign="middle" style=" border-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:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Vessel Name</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>DWT</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Delivered to Star Bulk</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Year Built</b></font></div></td>
    <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1 &#160;&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Ennea LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Poseidon</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">209,475</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February 26,&#160;2016</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2016</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2 &#160;&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Sea Diamond LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Goliath </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">209,537</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July 15, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">3 &#160;&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Pearl Shiptrade LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Gargantua </i>2</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">209,529</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">April 2, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">4 &#160;&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Coral Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Maharaj </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">209,472</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July 15, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">5 &#160;&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Seeker LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Libra</i> <i>(1) </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">207,765</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">June 6, 2016</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2016</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">6 &#160;&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Clearwater Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Marisa &#160;(1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">207,709</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March 11 2016</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2016</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">7 &#160;&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Cape Ocean Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Leviathan </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">182,511</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;19, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2014</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">8 &#160;&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Cape Horizon Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Peloreus </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">182,496</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;22, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2014</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">9 &#160;&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Sandra Shipco LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Pauline </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">180,274</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2008</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">10 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Christine Shipco LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Martha </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">180,274</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 31, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2010</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">11 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Pacific Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Pantagruel </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">180,181</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2004</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">12 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Borealis LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Borealis</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">179,678</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;9, 2011</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">13 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Polaris LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Polaris</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">179,600</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November&#160;14, 2011</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">14 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident V LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Angie </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">177,931</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2007</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">15 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Sky Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Big Fish </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">177,662</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2004</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">16 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Global Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Kymopolia </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">176,990</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">17 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Sea Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Big Bang </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">174,109</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2007</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">18 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Aurora LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Aurora</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">171,199</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;8, 2010</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2000</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">19 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Lowlands Beilun Shipco LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Despoina </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">170,162</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1999</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">20 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident VII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Eleonora </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">164,218</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 3, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2001</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">21 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident VI LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Monisha (Note 15(c)) </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">164,218</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February 2, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2001</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">22 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Nautical Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Amami </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">23 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Majestic Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Madredeus </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">24 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Sirius LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Sirius</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March&#160;7, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">25 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Vega LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Vega</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February&#160;13, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">26 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Alta I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Angelina </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,981</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 5, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">27 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Alta II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Gwyneth </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,790</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 5, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">28 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Kamila </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,769</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;3, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2005</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">29 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Grain Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Pendulum </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,619</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">30 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XIX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Maria </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,598</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November 5, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2007</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">31 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Markella </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,594</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2007</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">32 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident IX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Danai </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,574</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 21, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">33 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XI LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Georgia </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,298</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 14, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">34 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident VIII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Sophia </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,269</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 31, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2007</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">35 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XVI LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Mariella </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,266</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;19, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">36 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XIV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Moira </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,257</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November 19, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">37 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XVIII LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Nina </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,224</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 5, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">38 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident X LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Renee </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,221</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 18, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">39 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Nasia &#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,220</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">August&#160;29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">40 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XIII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Laura </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,209</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 8, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">41 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Jennifer </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,209</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">April 15, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">42 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XVII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Helena </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,187</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">43 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Mineral Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Mercurial Virgo </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">81,545</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2013</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">44 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident&#160;III LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Iris </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">76,466</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;8, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2004</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">45 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident IV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Aline (Note 15 (c)) </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">76,429</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;4, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2004</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">46 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Emily </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">76,417</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;16, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2004</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">47 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXV Ltd.</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Vanessa </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">72,493</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November 7, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1999</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">48 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Spring Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Idee Fixe (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63,458</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March 25, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">49 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Orion Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Roberta (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63,426</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March 31, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">50 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Success Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Laura (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63,399</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">April 7, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">51 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Ultra Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Kaley (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63,283</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">June 26, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Blooming Navigation LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Kennadi </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63,262</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 8, 2016</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2016</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">53 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Jasmine Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Mackenzie</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63,226</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March 2, 2016</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2016</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">54 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Challenger&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Challenger</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,462</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December&#160;12, 2013</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2012</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">55 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Challenger&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Fighter</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,455</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December&#160;30, 2013</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2013</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">56 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Axe&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Lutas</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,347</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 6, 2016</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2016</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">57 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Aurelia Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Honey Badger </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,320</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February 27, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">58 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Rainbow Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Wolverine </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,292</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February 27, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">59 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Axe I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Antares</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,258</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 9, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">60 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Asia&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Aquarius</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">60,916</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July 22, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Asia&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Pisces</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">60,916</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">August 7, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">62 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Glory Supra Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Strange Attractor </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">55,742</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Omicron LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Omicron</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">53,489</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">April&#160;17, 2008</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2005</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">64 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Gamma LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Gamma</i> </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">53,098</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January&#160;4, 2008</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2002</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">65 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Zeta LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Zeta</i> </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,994</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January&#160;2, 2008</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2003</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">66 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Delta LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Delta </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,434</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January&#160;2, 2008</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2000</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">67 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Theta LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Theta</i> </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,425</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December&#160;6, 2007</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2003</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">68 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Epsilon LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Epsilon </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,402</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December&#160;3, 2007</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2001</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">69 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Cosmo LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Cosmo</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,247</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;1, 2008</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2005</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">70 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Kappa LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Kappa </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,055</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December&#160;14, 2007</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2001</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:12px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:181px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:136px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Total dwt</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:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>7,421,255</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:132px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-indent:0.0px;">&#160;</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-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1)&#160;&#160;&#160;&#160;&#160;&#160;Vessels subject to a capital bareboat lease (Note 5)</font></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Newbuildings at June 30, 2016:</b></i></font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:27px;height:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:212px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Wholly Owned Subsidiaries</b></font></div></td>
    <td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:199px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Newbuildings Name</b></font></div></td>
    <td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Type</b></font></div></td>
    <td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>DWT</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Expected Delivery</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:27px;height:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Date</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:27px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:212px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Breezer LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1371 (tbn <i>Star Virgo</i>) (1)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Jan-17</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:27px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:212px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Domus Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1360 (tbn <i>Star Ariadne</i>) (1) </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Feb-17</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:27px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">3 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:212px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Castle&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1342 (tbn <i>Star Gemini</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Jul-17</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:27px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">4 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:212px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Festive Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1361 (tbn <i>Star Magnanimus</i>) (1) </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Jan-18</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:27px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">5 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:212px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Castle&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1343 (tbn <i>Star Leo</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Jan-18</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:27px;height:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:212px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:199px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Total dwt</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="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:57px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>1,040,000</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>&#160;</b></font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:6.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1)&#160;&#160;&#160;&#160;&#160;&#160;Vessels subject to a capital bareboat lease (Note 6)</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Non-vessel owning subsidiaries at June 30, 2016:</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:24px;height:11px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Wholly Owned Subsidiaries</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:260px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1 &#160;&#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Bulk Management Inc.</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">23 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Mega LLC </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2 &#160;&#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Starbulk S.A.</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">24 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Big LLC </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">3 &#160;&#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Bulk Manning LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">25 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Gravity Shipping LLC </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">4 &#160;&#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Bulk Shipmanagement Company (Cyprus) Limited</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">26 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">White Sand Shipping LLC </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">5 &#160;&#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Optima Shipping Limited</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">27 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXVI LLC </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">6 &#160;&#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Omas LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">28 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Premier Voyage LLC </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">7 &#160;&#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Synergy LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">29 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXII LLC </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">8 &#160;&#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Oceanbulk Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">30 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Dioriga Shipping Co.</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">9 &#160;&#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Oceanbulk Carriers LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">31 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">KMSRX Holdings LLC</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">10 &#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">International Holdings LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">32 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">L.A. Cape Shipping LLC</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">11 &#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Unity Holding LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">33 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Cape Confidence Shipping LLC</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">12 &#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Bulk (USA) LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">34 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Cape Runner Shipping LLC</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">13 &#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXI LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">35 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Olympia Shiptrade LLC</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">14 &#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXIV LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">36 &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:260px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Victory Shipping LLC</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">15 &#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXVII LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">37 &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:260px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Cape I LLC</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">16 &#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXXI LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">38 &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:260px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Oday Marine LLC</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">17 &#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXIX LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">39 &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:260px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Searay Maritime LLC</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">18 &#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXVIII LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">40 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXIII LLC </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">19 &#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Lamda LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">41 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Positive Shipping Company</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">20 &#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Alpha LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">42 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">OOCape1 Holdings LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">21 &#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Beta LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">43 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXX LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">22 &#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Ypsilon LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">44 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Cape&#160;II LLC</font></div></td>
  </tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The vessel listed below was under commercial and technical management by a Star Bulk's wholly owned subsidiary, Starbulk S.A., during the six-month periods ended June 30, 2015 and 2016, in exchange for a fixed management fee of $0.75 per day and $0.5 per day, respectively.</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" rowspan="3" style=" border:solid #000000 0.0px;width:302px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Vessel Owning Company</b></font></div></td>
    <td valign="middle" rowspan="3" style=" border:solid #000000 0.0px;width:144px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Vessel Name</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>DWT</b></font></div></td>
    <td valign="middle" colspan="3" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Year Built</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" colspan="3" style=" border:solid #000000 0.0px;width:147px;height:11px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:42px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" colspan="3" style=" border:solid #000000 0.0px;width:147px;height:11px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:302px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Serenity Maritime Inc.</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:144px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Serenity I</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">53,688</font></div></td>
    <td valign="middle" colspan="3" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2006</font></div></td>
  </tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The vessel listed below was chartered in as part of the sale and leaseback transaction entered into by the Company with respect to the vessel <i>Maiden Voyage</i>, which is currently named <i>Astakos</i> (Note 5).</font></div>
<div style="text-align:center;text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="top" style=" border:solid #000000 0.0px;width:248px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Vessel Name</b></font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:157px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Type</b></font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>DWT</b></font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Year Built</b></font></div></td>
  </tr>
  <tr>
    <td valign="top" style=" border:solid #000000 0.0px;width:248px;"><div style="margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Astakos</i></font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:157px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Supramax</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:97px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">58,722</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2012</font></div></td>
  </tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for 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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6810029824">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant accounting policies and recent accounting pronouncements<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2016</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 and recent accounting pronouncements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAccountingPoliciesTextBlock', window );">Significant accounting policies and recent accounting pronouncements:</a></td>
<td class="text"><div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Significant accounting policies and recent accounting pronouncements:</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">A summary of the Company's significant accounting policies is included in Note 2 to the Company's consolidated financial statements included in the 2015 20-F Annual Report. There have been no changes to the Company's significant accounting policies in the six-month period ended June 30, 2016, except for the following:</font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Consolidation (Topic 810) - Amendments to the Consolidation Analysis:</b> 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. The Company believes that the implementation of this update has no material impact on its consolidated financial statements.</font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Financing Costs:</b> The Company has adopted Accounting Standards Update No. 2015-03, &#147;Simplifying the Presentation of Debt Issuance Costs,&#148; which 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, rather than as deferred finance charges with total assets, effective January 1, 2016. The guidance provides also that the new classification should be applied retrospectively to prior periods presented in the financial statements. As such, the outstanding balance of deferred finance charges as of December 31, 2015 of $16,037 (previously presented as &#147;Deferred finance charges, net&#148;) and June 30, 2016 of $11,453, are reflected against long term debt and 8.00% 2019 Notes in the accompanying balance sheets as further analyzed in Note 8. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update.</font></div>
<div style="text-align:justify;margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Recent Accounting pronouncements: </b></i></font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In March 2016, the FASB issued ASU 2016-05, &#147;Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships,&#148; which clarifies that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under Topic 815 does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria (including those in paragraphs 815-20-35-14 through 35-18) continue to be satisfied. For public companies, the amendments in this Update are effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. For all other entities, the amendments in this Update are effective for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods within fiscal years beginning after December 15, 2018. An entity may apply the amendments in this Update on a prospective basis or on a modified retrospective basis, as defined in the Update. 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;text-indent:29.3px;"><font style="font-family:Times New Roman;font-size:16.0px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In March&#160;2016, the FASB issued ASU 2016-07, &#147;Investments - Equity Method and Joint Ventures (Topic 323)&#148; (&#147;ASU 2016-07&#148;), which simplifies the accounting for equity method investments by removing the requirement that an entity retroactively adopt the equity method of accounting if an investment qualifies for use of the equity method as a result of an increase in the level of ownership or degree of influence. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor's previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting. ASU 2016-07 is effective for fiscal years beginning after December&#160;15, 2016, and interim periods within those years, and must be applied prospectively. Early adoption 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;text-indent:29.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In March&#160;2016, the FASB issued ASU 2016-09, &#147;Compensation-Stock Compensation - Improvements to Employee Share-Based Payment Accounting (Topic 718)&#148; (&#147;ASU 2016-09&#148;), which involves several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Under the new standard, all excess income tax benefits and deficiencies are to be recognized as income tax expense or benefit in the income statement and the tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur. An entity should also recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period. Excess tax benefits should be classified along with other income tax cash flows as an operating activity. With regard to forfeitures, the entity may make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. ASU 2016-09 is effective for fiscal years beginning after December&#160;15, 2016 including interim periods within that reporting period. Early adoption 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;text-indent:29.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In May and April 2016, the FASB issued two Updates with respect to Topic 606: ASU 2016-10, &#147;Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing&#148; and ASU 2016-12, &#147;Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients.&#148; The amendments in these Updates do not change the core principle of the guidance in Topic 606, which is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services by applying the following steps: (1) Identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. The amendments in Update 2016-10 simply clarify the following two aspects of Topic 606: (1) identifying performance obligations and (2) licensing implementation guidance. The amendments in Update 2016-12 similarly affect only certain narrow aspects of Topic 606; namely, (1) &#147;Assessing the Collectibility Criterion in Paragraph 606-10-25-1(e) and Accounting for Contracts That Do Not Meet the Criteria for Step 1 (Applying Paragraph 606-10-25-7),&#148; (2) &#147;Presentation of Sales Taxes and Other Similar Taxes Collected from Customers,&#148; (3) &#147;Noncash Consideration,&#148; (4) &#147;Contract Modifications at Transition,&#148; (5) &#147;Completed Contracts at Transition,&#148; and (6) &#160;&#147;Technical Correction.&#148; The amendments in these Updates also affect the guidance in Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606), which is not yet effective. The effective date and transition requirements for the amendments in these Updates are the same as the effective date and transition requirements in Topic 606 (and any other Topic amended by Update 2014-09). Accounting Standards Update 2015-14, &#147;Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,&#148; has deferred the effective date of Update 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>
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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">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2016</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-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;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-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Details of the Company's transactions with related parties did not change in the six-month period ended June 30, 2016 and are discussed in Note 3 of the Company's consolidated financial statements for the year ended December 31, 2015, included in the Company's 2015 20-F Annual Report. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Transactions and balances with related parties are analyzed as follows:</font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Balance Sheet</b></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: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:118px;"><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;">&#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:98px;"><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:340px;height:27px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:118px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31, 2015</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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>June 30, 2016</b></font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Assets</b></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:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Oceanbulk Maritime S.A. and its affiliates</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,209</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">672</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:13px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total Assets</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,209</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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>672</b></font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:13px;"><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;">&#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:118px;"><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;">&#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:98px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Liabilities</b></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:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:118px;"><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;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interchart Shipping Inc. </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:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">8</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">125</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Combine Marine Ltd.</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: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:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">9</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:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Oceanbulk Maritime S.A. and its affiliates</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: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:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">33</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:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">29</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Management and Directors Fees</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:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">315</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">254</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Managed Vessels of Oceanbulk Shipping LLC</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: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:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7</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:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:13px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Oceanbulk Sellers</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: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:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">50</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:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:13px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total Liabilities</b></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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>422</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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>415</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:340px;height:13px;"><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:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:118px;"><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-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:34px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Statements of Operations</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-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="bottom" 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:257px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Six month period ended <br/>June 30,</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
    <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:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Voyage expenses-Interchart </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><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:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1,650) &#160;</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-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1,650) &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Executive directors consultancy 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-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(317) &#160;</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-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(248) &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Non-executive directors compensation </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(79) &#160;</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-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(75) &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Office rent - Combine Marine Ltd. </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(17) &#160;</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-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(17) &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Management fee expense - Maryville Maritime Inc.</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(315) &#160;</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-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interest on Excel Vessel Bridge Facility</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(220) &#160;</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-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
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</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"></div><span></span>
</td>
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<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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<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 class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The 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 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 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 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39603-107864<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 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39622-107864<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 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<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 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39678-107864<br><br>Reference 6: 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></p></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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6810224656">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Inventories<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 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_InventoryDisclosureAbstract', window );"><strong>Inventories [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureTextBlock', window );">Inventories:</a></td>
<td class="text"><div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>4.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Inventories:</b></font></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The amounts shown in the accompanying consolidated balance sheets are analyzed as follows:</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:114px;height:26px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31, 2015</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30, 2016</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:114px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Lubricants</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7,438</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7,273</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:114px;height:13px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Bunkers</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,809</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">9,609</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:114px;height:13px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; 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:Times New Roman;font-size:13.3px;color:#000000; "><b>14,247</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>16,882</b></font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div>
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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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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and 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 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></p></div>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6810022880">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Vessels and other fixed assets, net<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 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_PropertyPlantAndEquipmentAbstract', window );"><strong>Vessels and other fixed assets, net [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_PropertyPlantAndEquipmentDisclosureTextBlock', window );">Vessels and other fixed assets, net:</a></td>
<td class="text"><div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>5.&#160;&#160;&#160;&#160;&#160;&#160;Vessels and other fixed assets, net:</b></font></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The amounts in the accompanying consolidated balance sheets 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" style=" border:solid #000000 0.0px;width:281px;height:26px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31, 2015</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30, 2016</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:281px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Cost</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:281px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Vessels</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2,025,688</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2,096,931</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:281px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other fixed assets</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,810</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,848</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:281px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total cost</b></font></div></td>
    <td valign="middle" style=" border: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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2,027,498</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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2,098,779</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:281px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Accumulated depreciation</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(269,946</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(296,272</font></div></td><td valign="middle"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:281px;height:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Vessels and other fixed assets, net</b></font></div></td>
    <td valign="middle" style=" border: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:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,757,552</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:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,802,507</b></font></div></td>
  </tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Vessels acquired / disposed of during the six-month period ended June 30, 2015</b></i></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Delivery of newbuilding vessels:</i></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(i) &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(ii) &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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 <i>Honey Badger</i> and <i>Wolverine</i> under the Sinosure Facility.</font></div>
<div style="text-align:justify;margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(iii) &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;On April 2, 2015, the Company took delivery of the Newcastlemax vessel <i>Gargantua</i> (ex-HN 166). The delivery instalment of $37,682 was partially financed by $32,400 drawn under the DNB-SEB-CEXIM $227,500 Facility, while the remaining amount was financed through existing cash.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(iv) &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(v) &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;On March 25, March 31, April 7 and June 26, 2015, the Company took delivery of the vessels <i>Idee Fixe</i>, <i>Roberta</i>, <i>Laura</i> and <i>Kaley</i>, respectively, all of which are subject to bareboat charter agreements with affiliates of New Yangzijiang shipyards that are accounted for in the Company's consolidated financial statements as a capital lease, as further described in the Company's 2015 20-F Annual Report.</font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Acquisition of secondhand vessels</i>:</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During the six-month period ended June 30, 2015, the remaining six of the Excel Vessels (<i>Star Nina</i> (ex-<i>Iron Kalypso</i>), <i>Star Nicole</i> (ex-<i>Elinakos</i>), <i>Star Claudia</i> (ex-<i>Happyday</i>), <i>Star Monisha</i> (ex-<i>Iron Beauty</i>), <i>Rodon</i> and <i>Star Jennifer (ex-Ore Hansa)</i> were delivered to the Company in exchange for 851,577 common shares and $39,475 in cash, completing the acquisitions of 34 vessels from Excel, as further discussed in the Company's consolidated financial statements for the year ended December 31, 2015, included in the Company's 2015 20-F Annual Report.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Sale of vessels</i>:</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On January&#160;20, January&#160;28, March&#160;6, and March&#160;19, 2015, the Company entered into separate agreements with third parties to sell four of the recently acquired Excel Vessels:&#160;<i>Star Julia</i>,&#160;<i>Star Tatianna</i>,&#160;<i>Rodon&#160;</i>and&#160;<i>Star Monika</i>, respectively. The vessels were delivered to their new owners on February&#160;4, February&#160;9, March&#160;12 and April&#160;7, 2015, respectively. As of March 31, 2015, the vessel <i>Star Monika</i> met the criteria for classification as held for sale, and the Company recognized an impairment loss of $1,080. In addition, the vessel&#160;<i>Star Kim,</i>&#160;which was agreed to be sold in December 2014, was delivered to its new owners on January 21, 2015. In connection with the sale of the vessels&#160;<i>Star Julia</i>,<i>&#160;Star Tatianna, Star Monika</i>&#160;and&#160;<i>Star Kim</i>,&#160;the Company prepaid an amount of $18,181 under the Excel Vessel CiT Facility. </font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In addition, on April 17, 2015, May 18, 2015 and June 5, 2015 the Company entered into separate agreements with third parties to sell the vessels <i>Star Big</i>, <i>Star Christianna</i> and <i>Star Mega</i>. The vessels were delivered to their new owners on June 4, 2015, June 23, 2015 and June 17, 2015, respectively. </font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In connection with the aforementioned sales the Company recognized a total net loss on sale of vessels of $13,389, which is separately reflected in the accompanying statement of operations for the six-month period ended June 30, 2015. </font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On May 28, 2015, the Company entered into an agreement with a third party to sell the vessel <i>Maiden Voyage</i>. The vessel was delivered to its new owner in September 2015. As part of this transaction, the vessel was leased back to the Company under a time charter for two years, and Star Bulk guaranteed all the liabilities and responsibilities of the vessel's shipowning entity (Premier Voyage LLC) under this charter. The lease back did not meet the lease classification test for a capital lease and was accounted for as an operating lease. In addition, the vessel did not meet the 'held-for-sale' classification criteria as of June 30, 2015, as it was not considered available for immediate sale in its present condition. In connection with this sale, an impairment charge of $8,282 was recorded, which includes a $4,411 write-off of the fair value adjustment recognized upon the Merger. 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 June 30, 2016 is $90 and is reflected within <i>&#147;Other non-current liabilities&#148;</i> in the accompanying consolidated balance sheets, while amortization of this deferred gain during the six-month period ended June 30, 2016 is $37 and is included within <i>&#147;Charter-in hire expense&#148;</i> in the accompanying unaudited interim condensed consolidated statement of operations.</font></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Vessels acquired / disposed of during the six-month period ended June 30, 2016</b></i></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Delivery of newbuilding vessels:</i></font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(i) &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;On January 6, 2016, the Company took delivery of the vessel <i>Star Lutas</i> (ex-HN NE 197). The delivery installment of $19,770 was partially financed by $14,813 drawn down under the Sinosure Facility. </font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(ii) &#160;&#160;&#160;&#160;&#160;On January 8, 2016, the Company took delivery of the vessel <i>Kennadi</i> (ex-HN 1080). The delivery installment of $21,229 was partially financed by $14,478 drawn down under the Sinosure Facility.</font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(iii) &#160;&#160;&#160;&#160;&#160;On February 26, 2016, the Company took delivery of the vessel <i>Star Poseidon</i> (ex-HN NE 198). The delivery installment of $33,391 was partially financed by $23,400 drawn down under the DNB-SEB-CEXIM $227,500 Facility.</font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(iv) &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;On March 2, 2016, the Company took delivery of the vessel <i>Mackenzie</i> (ex-HN 1081). The delivery installment of $18,221 was partially financed by $12,720 drawn down under the Sinosure Facility.</font></div>
<div style="text-align:justify;margin-left: 3.0px;margin-bottom:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(v) &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;On March 11, 2016 and June 6, 2016, the Company took delivery of the vessels <i>Star Marisa</i> (ex-HN 1359) and <i>Star Libra</i> (ex-HN 1372), which are each subject to a separate bareboat charter agreement with CSSC (Hong Kong) Shipping Company Limited (&#147;CSSC&#148;). &#160;Each of these bareboat charter agreements is accounted for in the Company's consolidated financial statements as a capital lease, as further described in the Company's 2015 20-F Annual Report.</font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Sale of vessels</i>:</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In late 2015, the Company entered into various separate agreements with third parties to sell four of its operating vessels (<i>Indomitable</i>, <i>Magnum Opus</i>, <i>Tsu Ebisu</i> and <i>Deep Blue</i>) and five of its newbuilding vessels (<i>Behemoth</i>, <i>Bruno Marks</i>, <i>Jenmark</i>, <i>Star Aries</i> and <i>Star Taurus)</i> upon their delivery from the shipyards<i>. </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. All these sold vessels were delivered to their purchasers during the six-month period ended June 30, 2016, and the Company recognized a net loss on sale of $21. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In addition, in late March 2016, the Company negotiated the sale of <i>Star Michele</i>. The Memorandum of the Agreement was signed in April 2016 and the vessel was delivered to its buyers in late May 2016. In connection with this sale, the Company recognized an impairment loss of $5,626, which is reflected within &#147;Impairment loss&#148; in the accompanying unaudited interim condensed consolidated statement of operations for the six-month period ended June 30, 2016. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Capital leases</i></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of June 30, 2016, the Company was party to six capital leases, for the vessels <i>Idee Fixe</i>, <i>Roberta</i>, <i>Laura</i>, <i>Kaley</i>, <i>Star Marisa and Star Libra</i>. The interest expense on the financial liability related to the Company's capital leases for the six-month periods ended June 30, 2016 and 2015 was $3,016 and $872, respectively, and is included within &#147;Interest and finance costs&#148; in the accompanying unaudited interim condensed consolidated statements of operations. As of June 30, 2016, the net book value of the vessels under capital leases was $232,835, with accumulated amortization of $5,984. The principal payments required to be made after June 30, 2016 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:351px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Twelve month periods ending</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Amount</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2017</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">17,689</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2018</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">17,647</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2019</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">18,534</font></div></td>
  </tr>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2020</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">21,439</font></div></td>
  </tr>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2021</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">21,973</font></div></td>
  </tr>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2022 and thereafter</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;">&#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:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">116,710</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total capital lease minimum payments</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>213,992</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:14px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Excluding bareboat interest </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">51,259</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total lease commitments</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>162,733</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Lease commitments -&#160;current portion</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">9,137</font></div></td>
  </tr>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Lease commitments -&#160;non-current portion</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">153,596</font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other than the sale of <i>Star Michele </i>as discussed above and the termination of two newbuilding contracts discussed in Note 6 below, which collectively resulted in an aggregate impairment loss of $6,694 during the six-month period ended June 30, 2016, no other events and circumstances were identified that would require an additional impairment since the Company's last impairment exercise as of December 31, 2015. </font></div>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6810045632">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Advances for vessels under construction and acquisition of vessels<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2016</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>
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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-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>6.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Advances for vessels under construction and acquisition of vessels:</b></font></div>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:39px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><br/><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31, 2015</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30, 2016</b></font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Pre-delivery Yard installments and Fair value adjustment</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">65,009</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">26,054</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Bareboat capital leases -&#160;upfront hire &amp; handling fees</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">54,428</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">25,272</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Capitalized interest and finance costs</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,301</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,552</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other capitalized 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:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2,172</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,014</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>127,910</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>55,892</b></font></div></td>
  </tr>
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<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During the six-month period ended June 30, 2016, the Company terminated two shipbuilding contacts, leaving the Company with no future capital expenditure obligations with respect to these two newbuildings. Following the Company's impairment evaluation as of December 31, 2015, an additional impairment charge of $1,068 was recorded in the six-month period ended June 30, 2016 in order to totally impair the cost of these advances. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As summarized in the relevant table of Note 1, as of June 30, 2016 the Company was party to five newbuilding contracts (three of which are subject to capital bareboat leases) for the construction of dry bulk carriers of various types. As of June 30, 2016, the total aggregate remaining contracted price for the five newbuilding vessels plus agreed additional amounts was $193,395, payable in periodic installments up to their deliveries, of which $83,492 is payable during the next twelve-month period ending June 30, 2017 and the remaining $109,903 is payable during the twelve months ending June 30, 2018. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As a result of the renegotiation of prices and delivery dates of certain of the Company's newbuilding vessels, as disclosed in the Company's consolidated financial statements for the year ended December 31, 2015, included in the Company's 2015 20-F Annual Report, the Company as of June 30, 2016 is entitled to receive a refund of $5,492 from the shipyards, $1,604 of<i> </i>which is separately reflected in the accompanying relevant consolidated balance sheet under &#147;Other non-current assets,&#148; and the remaining $3,888 of which is included under &#147;Prepaid expenses and other receivables.&#148;</font></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for advances paid to yards and capitalized expenses for acquisition of vessels.</p></div>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6810188464">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair value of Above-Market Acquired Time Charters<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 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_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-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>7.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Fair value of Above-Market Acquired Time Charters:</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As part of the Merger in July 2014, a $1,967 intangible asset was recognized in connection with a fair value adjustment for two favorable time charters for the vessels <i>Amami </i>and <i>Madredeus</i>, each of which was leased by Oceanbulk at the time of the Merger.<i> </i>Accumulated amortization<i> </i>as of December 31, 2015 in connection with these time charters was $1,713, leaving an unamortized balance as of December 31, 2015 of $254, which was fully amortized during the six-month period ended June 30, 2016. The corresponding amortization for the six-month period ended June 30, 2015 was $575. Such amortization is included under &#147;Voyage revenues&#148; in the accompanying unaudited interim condensed consolidated statements of operations. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The amortization of the fair value of above-market acquired time charters for the six-month period ended June 30, 2015 also included $6,496 related to the vessels <i>Star Big,</i> <i>Star Martha (ex-Christine)</i>, <i>Star Pauline (ex-Sandra)</i> and <i>Star Despoina (ex-Lowlands Beilun) </i>(which had been fully amortized up to December 31, 2015, as further described in Note 7 in the Company's consolidated financial statements for the year ended December 31, 2015, included in the Company's 2015 20-F Annual Report). </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">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 connection with this sale, its above-market acquired time charter was terminated early, and the unamortized balance relating to this vessel of $2,114 at June 30, 2015, was written off and reflected under &#147;Loss on time charter agreement termination&#148; in the accompanying unaudited interim condensed consolidated statement of operations for the six-month period ended June 30, 2015. </font></div>
<div style="text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
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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>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6810091632">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-term Debt<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2016</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_LongTermDebtTextBlock', window );">Long-term Debt:</a></td>
<td class="text"><div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>8.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Long-term Debt:</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Details of the Company's credit facilities and debt securities are discussed in Note 8 of the Company's consolidated financial statements for the year ended December 31, 2015, included in the Company's 2015 20-F Annual Report. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>New Drawdowns</b>: As further disclosed in Note 5, in connection with the delivery of the vessels <i>Star Poseidon, Star Lutas, Kennadi and Mackenzie</i> during the six-month period ended June 30, 2016, the Company drew down an amount of $23,400 under the DNB-SEB-CEXIM $227,500 Facility and an aggregate amount of $42,011 under the Sinosure Facility. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Prepayments due to sale: </b>In connection with the sale of the vessels <i>Tsu Ebisu, Deep Blue, Magnum Opus,</i> <i>Obelix. Indomitable and Michele</i> discussed in Note 5, during the six-month period ended June 30, 2016 the Company prepaid an aggregate amount of $111,407 under the corresponding facilities (the Deutsche Bank $85,000 Facility, the HSBC $20,000 Dioriga Facility, the DVB $31,000 Facility, the ABN $87,458 Facility, Commerzbank $120,000 Facility and BNP $32,480 Facility).</font></div>
<div style="text-align:justify;margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Commerzbank $120,000 Facility - Refinancing: </b>In April 2016, the Company and Commerzbank entered into a refinancing amendment of the Commerzbank $120,000 Facility. This refinancing included (a)&#160;changes to certain covenants governing this facility, (b)&#160;a different amortization schedule for this facility, and (c)&#160;a change in the final repayment date from October 2016 to October 2018. </font></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In addition, the Company's credit facilities contain financial covenants and undertakings requiring the Company to maintain various financial ratios, including:</font></div>
<ul>
	<li type="disc" style="margin-bottom:12.0px;font-family:Times New Roman;font-size:13.3px;color:#000000; "><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">a minimum ratio of aggregate vessel value to loans secured (&#147;SCR&#148;);</font></li>
	<li type="disc" style="margin-bottom:12.0px;font-family:Times New Roman;font-size:13.3px;color:#000000; "><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">a maximum ratio of total liabilities to market value adjusted total assets;</font></li>
	<li type="disc" style="margin-bottom:12.0px;font-family:Times New Roman;font-size:13.3px;color:#000000; "><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">a minimum EBITDA to interest coverage ratio;&#160;</font></li>
	<li type="disc" style="margin-bottom:12.0px;font-family:Times New Roman;font-size:13.3px;color:#000000; "><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">a minimum liquidity; and</font></li>
	<li type="disc" style="margin-bottom:12.0px;font-family:Times New Roman;font-size:13.3px;color:#000000; "><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">a minimum equity ratio.</font></li>
</ul><div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December 31, 2015 and June 30, 2016 the Company was required to maintain minimum liquidity, not legally restricted, of $150,000 and $48,643, respectively, which is included within &#147;Cash and cash equivalents&#148; in the accompanying consolidated balance sheets. In addition, as of December 31, 2015 and June 30, 2016 the Company was required to maintain minimum liquidity, legally restricted, of $13,997 and $13,907, respectively, which is included within &#147;Restricted cash&#148; in the accompanying consolidated balance sheets. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December&#160;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. An 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. As such, as of December&#160;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&#160;31, 2015, the Company was in compliance with the applicable financial and other covenants contained in its debt agreements, including the 2019 Notes. </font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of August 31, 2016, the Company's lenders agreed to, among other things, (i) defer principal payments owed through June 30, 2018 to the due date of the balloon installments of each facility, (ii) waive in full or substantially relax the financial covenants, effective as of March 31, 2016 and June 30, 2016 and through December 31, 2019 and (iii) implement a cash sweep mechanism&#160;pursuant to which excess cash will be applied towards the payment of deferred amounts, payable&#160;<i>pro rata</i>&#160;based on each facility's deferred amounts relative to the total deferred amounts.&#160;In exchange, the Company has agreed to&#160;raise additional equity </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">of not less than $50.0 million of net proceeds by September 30, 2016 </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">and impose restrictions on paying dividends (the &#147;Restructuring&#148;). I</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">n accordance with guidance related to the classification of </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">short-term obligations expected to be refinanced on a long-term basis</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">, the Company has reclassified</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> all of the amounts outstanding under its bank loans as of June 30, 2016 in accordance with their repayment terms, as amended pursuant to the Restructuring. </font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The principal payments required to be made after June 30, 2016 for all of the then-outstanding bank debt, </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">after giving effect to the Restructuring</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">, are as follows:</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-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:334px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Twelve month periods ending</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Amount</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2017</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2018</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2019</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">288,122</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2020</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">218,939</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2021</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">131,636</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2022 and thereafter</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">132,892</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total Long term debt</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>771,589</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:334px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Unamortized Deferred financing fees</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">9,992</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total Long term debt, net</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>761,597</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Current portion of long term debt</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Long term debt, net</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">761,597</font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The 8.00% 2019 Notes mature in November 2019 and are presented in the accompanying consolidated balance sheets as of December 31, 2015 and June 30, 2016 net of unamortized deferred financing fees of $1,677 and $1,461, respectively.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of June 30, 2016, 64 of the Company's owned vessels, having a net carrying value of $1,569,264, were subject to first-priority mortgages as collateral to the Company's loan facilities. In addition, all six of the Company's bareboat chartered vessels, having a net carrying value of $232,835, were pledged as collateral under the Company's bareboat charter agreements.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">For the six-month periods ended June 30, 2015 and 2016, the Company's existing debt agreements bore interest at a weighted-average rate of approximately 3.30% and 3.90%, respectively. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">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:373px;height:27px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; 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:Times New Roman;font-size:13.3px;color:#000000; "><b>Six month period ended <br/>June 30,</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:83px;height:15px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><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;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:373px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interest on long term debt and capital leases</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$16,991 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$19,651 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:373px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Less: Interest capitalized </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(6,221) &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><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;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(2,578) &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:373px;height:38px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other Comprehensive Income (Note 14)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,491 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;667 </font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,199 </font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">411</font></div></td>
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<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In connection with the prepayments discussed above following the sale of the corresponding vessels, the cancellation of certain loan commitments resulting from the sale of certain newbuilding vessels upon their delivery from the shipyards and the termination of two newbuilding contracts as further discussed in Note 6, $1,801 of unamortized deferred finance charges was written off and included under &#147;Loss on debt extinguishment&#148; in the accompanying unaudited interim condensed consolidated statement of operations for the six-month period ended June 30, 2016. In connection with the prepayment of the Excel Vessel Bridge Facility, the ABN AMRO $31,000 Facility and the Commerzbank $26,000 Facility, $974 of unamortized deferred finance charges was written off and included under &#147;Loss on debt extinguishment&#148; in the accompanying consolidated statement of operations for the six-month period ended June 30, 2015.</font></div>
<div style="text-align:justify;margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for 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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6809965904">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Preferred and Common Shares and Additional Paid-in Capital<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2016</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="text"><div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>9.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Preferred and Common Shares and Additional Paid-in Capital:</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Details of the Company's Preferred and Common Shares are discussed in Note 9 of the Company's consolidated financial statements for the year ended December 31, 2015, included in the Company's 2015 20-F Annual Report.</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Equity offerings</b></i>: On January 14, 2015, the Company completed a primary underwritten public offering of 9,800,084 of its common shares, at a price of $25.00 per share. The aggregate proceeds to the Company, net of underwriters' commissions and offering expenses, were $242,211. In addition, on May 18, 2015, the Company completed a primary underwritten public offering of 11,250,000 common shares, at a price of $16.00 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;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Issuance of shares in connection with vessel acquisitions</b></i>: As further discussed in Note 5 above, 851,577 of the Company's common shares were issued during the six-month period ended June 30, 2015 in connection with the delivery of the final six Excel Vessels.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Issuance of shares in connection with the Company's Equity Incentive Plan</b></i>: In April 2016, the Company issued 134,545 common shares in connection with its 2015 Equity Incentive Plan.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>5-for-1 reverse stock split: </b></i>Effective as of the opening of trading on June 20, 2016, the Company effected a five-for-one reverse stock split of its common shares. The reverse stock split was approved by shareholders at the Company's Special Meeting of Shareholders held on December 21, 2015. The reverse stock split reduced the number of the Company's common shares from 219,788,952 to 43,955,659 and affected all issued and outstanding common shares. No fractional shares were issued in connection to the reverse split. Shareholders who would otherwise have held a fractional share of the Company's common stock received a cash payment in lieu of such fractional share.</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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6809996432">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Management fees<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>10.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Management fees:</b></font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of January 1, 2015, the Company engaged Ship Procurement Services S.A. (&#147;SPS&#148;), an unaffiliated third-party company, to provide to its fleet certain procurement services at a daily fee of $0.295 per vessel. Total management fees to SPS for the six-month periods ended June 30, 2015 and 2016 were $3,748 and $3,911, respectively, and are included in &#147;Management fees&#148; in the accompanying unaudited interim condensed statement of operations. In addition, Management fees for the six-month period ended June 30, 2015 also include $315 of fees incurred pursuant to the management agreement with Maryville discussed in Note 3. </font></div>
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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>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6810224656">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings / (Loss) per share<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 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_EarningsPerShareAbstract', window );"><strong>Earnings / (Loss) per Share [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_EarningsPerShareTextBlock', window );">Earnings / (Loss) per Share:</a></td>
<td class="text"><div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>11.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Earnings / (Loss) per Share:</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">All shares issued (including the restricted shares issued under the Company's equity incentive plans) are the Company's common shares and have equal rights to vote and participate in dividends. The restricted shares issued under the Company's equity incentive plans are subject to forfeiture provisions set forth in the applicable award agreements. The calculation of basic earnings per share does not consider the non-vested shares as outstanding until the time-based vesting restriction has lapsed.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company calculates basic and diluted earnings / loss per share as follows:</font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:234px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Six month period ended June 30, </b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Income / (Loss) :</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Net income / (loss)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(105,197</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(81,696</font></div></td><td valign="middle"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:6px;"><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;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;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:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Weighted average common shares outstanding, basic</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">34,347,332 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">43,880,713 &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;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:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(3.06) &#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(1.86) &#160;</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Effect of dilutive securities:</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;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:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Weighted average common shares outstanding, diluted</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">34,347,332 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">43,880,713 &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;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:17px;"><div style="text-indent:133.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(3.06)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(1.86)</b></font></div></td>
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    <td style="width:17px;"></td>
    <td style="width:21px;"></td>
    <td style="width:86px;"></td>
    <td style="width:17px;"></td>
    <td style="width:21px;"></td>
    <td style="width:86px;"></td>
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<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Because the Company incurred net losses for the six-month periods ended June 30, 2015 and 2016, the effect of the 135,230 and 690,000 non-vested shares and of the 104,250 non-vested share options outstanding as of June 30, 2015 and 2016, respectively, would be anti-dilutive; therefore &#147;Basic earnings / (loss) per share&#148; equals &#147;Diluted earnings / (loss) per share.&#148;</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6810067696">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity Incentive Plans<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 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_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract', window );"><strong>Equity Incentive Plans [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_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock', window );">Equity Incentive Plans:</a></td>
<td class="text"><div style="margin-top:12.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>12.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Equity Incentive Plans:</b></font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Details of the Company's Equity Incentive Plans and share awards granted up to December 31, 2015 are discussed in Note 13 of the Company's consolidated financial statements for the year ended December 31, 2015, included in the Company's 2015 20-F Annual Report.</font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">All non-vested shares and options vest according to the terms and conditions of the applicable agreements with the Company. The grantee does not have the right to vote the non-vested shares or exercise any right as a shareholder of the non-vested shares, although the issued and non-vested shares pay dividends as declared. The dividends with respect to these shares are forfeitable. Share options have no voting or other shareholder rights.</font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company currently expects that there will be no forfeitures of non-vested shares or options. 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 six-month periods ended June 30, 2015 and 2016, the total share-based compensation cost was $1,407 and $2,285, respectively, included under &#147;General and administrative expenses&#148; in the accompanying unaudited interim condensed consolidated statements of operations.</font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On May 9, 2016, the Company's Board of Directors adopted the 2016 Equity Incentive Plan (the &#147;2016 Plan&#148;) and reserved for issuance 940,000 common shares thereunder. The terms and conditions of the 2016 Plan are substantially similar to the terms and conditions of Company's previous equity incentive plans. In addition, on May 9, 2016, 690,000 restricted common shares were granted to certain directors, officers, employees of the Company, 650,000 of which vest within the third quarter of 2016 while the remaining 40,000 vest on March 1, 2018. </font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">A summary of the status of the Company's non-vested share options and restricted shares as of June 30, 2016 and the movement during the six-month periods ended June 30, 2015 and 2016, respectively, is presented below.</font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:205px;height:37px;"><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="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Number of options</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;">&#160;</div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:142px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Weighted Average Grant Date Fair Value</b></font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:205px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Outstanding at January 1, 2016</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;104,250 </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;27.5 </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;7.0605 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:205px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Granted</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:205px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Vested</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:205px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Outstanding as of June 30, 2016</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;104,250 </b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div><div style="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:double #000000 3.0px;width:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">27.5</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div><div style="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:double #000000 3.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7.0605</font></div></td>
  </tr>
  <tr>
    <td style="width:205px;"></td>
    <td style="width:18px;"></td>
    <td style="width:74px;"></td>
    <td style="width:19px;"></td>
    <td style="width:23px;"></td>
    <td style="width:103px;"></td>
    <td style="width:16px;"></td>
    <td style="width:21px;"></td>
    <td style="width:120px;"></td>
  </tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Number of outstanding options as well as their exercise price and weighed average grant date fair value have been revised retroactively, for all periods presented, to give effect to the 5-for-1 reverse stock split, discussed in Note 1, by keeping the total grant date fair value unchanged. </font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>&#160;</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:286px;height:39px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><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:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Number of shares</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Weighted Average Grant Date Fair Value</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Unvested as at January 1, 2015</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">78,833</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">54.30</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Granted</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;135,230 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">17.75</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Vested</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(78,833</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">54.30</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Unvested as at June 30, 2015</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;135,230 </b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</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:double #000000 3.0px;width:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;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;17.75 </b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:286px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:124px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:160px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Unvested as at January 1, 2016</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">135,230</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">17.75</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Granted</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;690,000 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><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:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3.75 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Cancelled</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(3,185</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;17.75 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Vested</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(132,045</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;17.75 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Unvested as at June 30, 2016</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>690,000</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</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:double #000000 3.0px;width:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>3.75</b></font></div></td>
  </tr>
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<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The estimated compensation cost relating to non-vested restricted share awards and share options not yet recognized was $1,000 and $557, respectively, as of June 30, 2016 and is expected to be recognized over the weighted average period of 0.30 years and 3.79 years, respectively.</font></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div>
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<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=65895303&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=68057994&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 S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 14)<br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<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 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 6: 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></p></div>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6810224656">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2016</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_CommitmentsAndContingenciesDisclosureTextBlock', window );">Commitments and Contingencies:</a></td>
<td class="text"><div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>13.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Commitments and Contingencies:</b></font></div>
<div style="margin-left: 24.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>a)</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Lease commitments</b></font></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The following table sets forth inflows and outflows related to the Company's leases, as at June 30, 2016.</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:191px;height:13px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" colspan="7" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:476px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Twelve month periods ending June 30,</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>plus inflows/ minus outflows</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2017</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2018</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2019</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2020</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2021</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2022 and thereafter</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Future, minimum, non-cancellable charter revenue (1) </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$21,372 </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:Times New Roman;font-size:13.3px;color:#000000; ">$21,372 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#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:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#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:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;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:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(4,156)</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:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;(3,595)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(561)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#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:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#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:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Bareboat capital leases - upfront hire &amp; handling fees (3)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(6,808)</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:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;(6,472)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(336)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#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:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#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:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Bareboat commitments charter hire (4) </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;(164,765)</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:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;(3,848)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;(10,467)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;(12,512)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;(12,450)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;(12,699)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;(112,789)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:13px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b> </font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>($154,357)</b></font></div></td>
    <td valign="middle" style=" border-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:Times New Roman;font-size:13.3px;color:#000000; "><b>$7,457 </b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>($11,364)</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>($12,512)</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>($12,450)</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>($12,699)</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>($112,789)</b></font></div></td>
  </tr>
  <tr>
    <td style="width:191px;"></td>
    <td style="width:74px;"></td>
    <td style="width:58px;"></td>
    <td style="width:67px;"></td>
    <td style="width:67px;"></td>
    <td style="width:67px;"></td>
    <td style="width:67px;"></td>
    <td style="width:74px;"></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-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1)&#160;&#160;&#160;&#160;&#160;&#160;The amounts represent the minimum contractual charter revenues to be generated from the existing non-cancellable time and freight charters until their expiration, net of address commission, assuming no off-hire days other than those related to scheduled interim surveys 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:Times New Roman;font-size:13.3px;color:#000000; ">(2)&#160;&#160;&#160;&#160;&#160;&#160;The amounts represent the Company's commitments under the operating lease arrangement for <i>Maiden Voyage</i> 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:Times New Roman;font-size:13.3px;color:#000000; ">(3) &#160;&#160;&#160;&#160;&#160;&#160;The amounts represent the Company's commitments for upfront hire and handling fees under the bareboat lease arrangements for the vessels 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:Times New Roman;font-size:13.3px;color:#000000; ">(4)&#160;&#160;&#160;&#160;&#160;&#160;The amounts represent the Company's commitments for charter hire fees under the bareboat lease arrangements for the vessels under construction. The bareboat charter hire is comprised of both a fixed and a variable portion; the variable portion is calculated based on the 6-month LIBOR rate of 0.92415%, as of June 30, 2016.</font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>b)&#160;&#160;&#160;&#160;&#160;&#160;Legal proceedings</b><i><b> </b></i></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">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 accrues for the cost of environmental liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. Currently, management is not aware of, and has not accrued for, any such claims or contingent liabilities requiring disclosure in the accompanying unaudited interim condensed consolidated financial statements.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On July 13, 2011 <i>Star Cosmo</i> was detained 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 detained, and related records were allegedly deficient. Administrative investigation commenced locally. The Company posted a cash collateral of &#128; 340,000 (approximately $377, using the exchange rate as of June 30, 2016, eur/usd 1.11) to guarantee the payment of fines that could be assessed in the future, and the vessel was released. The cash collateral of &#128; 340,000&#160;was released to the Company in March 2012, after being&#160;replaced by a P&amp;I Letter of undertaking. The fines were subsequently reduced by the Spanish administrative authorities to &#128;260,000&#160;(approximately $289, using the exchange rate of June 30, 2016, eur/usd1.11). After final adjudication of the fines before the Spanish Courts, the Company settled with&#160;payments in cash the equivalent amount of the fines of&#160;&#128;60,000 in March 2015 (approximately $67, using the exchange&#160; &#160;rate as of June 30, 2016, eur/usd 1.11) and &#128;200,000 in August 2016 (approximately $222, using the exchange rate as of June 30, 2016, eur/usd 1.11) and the file was closed. The Company's vessels are covered for pollution in the amount of $1 billion of insurance per vessel per incident by the Protection and Indemnity (P&amp;I) Association in which the Company's vessels are entered. The Company's vessels are subject to calls payable to their P&amp;I Association and may be subject to supplemental calls which are based on estimates of premium income and anticipated and paid claims. 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 condensed consolidated financial statements. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As described on Item 8 of the Company's the 2015 20-F Annual Report, on October&#160;23, 2014, a purported shareholder (the &#147;Plaintiff&#148;) of the Company filed a derivative and putative class action lawsuit in New&#160;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&#160;24, 2014, the Company and the other defendants removed the action to the United States District Court for the Southern District of New&#160;York. On March&#160;4, 2015, the Company and the other defendants moved to dismiss the complaint. On February&#160;18, 2016, the court granted the Company's motion to dismiss in full and dismissed the matter. On February&#160;24, 2016, Plaintiff filed a notice of appeal. Plaintiff's appeal brief was served on June 1, 2016. Defendants' response brief is due on August 31, 2016 and following Plaintiff's request for extension on their reply brief, the Court granted an extension for September 26, 2016. No further schedule has been set. The appeal is pending.</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6810012704">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair value measurements<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2016</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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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresTextBlock', window );">Fair value measurements:</a></td>
<td class="text"><div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>14.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Fair value measurements:</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company recognizes all derivative instruments as either assets or liabilities at fair value on its consolidated balance sheets in accordance with ASC Topic 815, &#147;<i>Derivatives and Hedging</i>&#148;.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b><u>Fair value on a recurring basis:</u></b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Interest rate swaps</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company enters into interest rate swap transactions to manage interest costs and risk associated with changing interest rates with respect to its variable interest loans and credit facilities.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In June&#160;2013, the Company entered into two interest rate swap agreements with Credit Agricole Corporate and Investment Bank (the &#147;Credit Agricole Swaps&#148;) to fix forward its floating interest rate liabilities under the two tranches of the Credit Agricole $70,000 Facility. The Credit Agricole Swaps were based on an amortizing notional amount beginning from $26,840 and $28,628, for the <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&#160;and August&#160;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 June 30, 2016, the notional amount of these swaps was $23,927 and $25,131, for the <i>Star Borealis</i> and the <i>Star Polaris</i>, respectively.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In addition, on April&#160;28, 2014, the Company entered into two interest rate swap agreements (the &#147;HSH Swaps&#148;) to fix forward 50% of its floating interest rate liabilities for the HSH Nordbank $35,000 Facility. The HSH Swaps came into effect in September&#160;2014 and mature in September&#160;2018. Under the terms of the HSH Swaps, the Company pays on a quarterly basis a fixed rate of 1.765% per annum, while receiving a variable amount equal to the three-month LIBOR, both applied on the notional amount of the swaps outstanding at each settlement date. As of June 30, 2016, the aggregate notional amount of these swaps was $14,781.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On August&#160;31, 2014 the Company designated the Credit Agricole Swaps and the HSH Swaps as cash flow hedges in accordance with ASC 815, &#147;<i>Derivatives and Hedging.</i>&#148; Accordingly, in the accompanying unaudited interim condensed consolidated statement of operations for the relevant period, the effective portion of these cash flow hedges is reported in &#147;Accumulated other comprehensive loss,&#148; while the ineffective portion of these cash flow hedges, if any, is reported under &#147;Gain / (Loss) on derivative financial instruments, net.&#148;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As part of the Merger, the Company acquired five swap agreements that Oceanbulk Shipping had entered into 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% and 2.07% per annum, based on an aggregate notional amount that varies. From July&#160;1, 2015 to October&#160;1, 2015, this notional amount reached an upper limit of $461,264. The counterparty makes quarterly floating rate payments at three-month LIBOR to the Company based on the same notional amount. Upon the completion of the Merger, on July&#160;11, 2014, the Company re-designated the Goldman Sachs Swaps as cash flow hedges in accordance with ASC 815. Accordingly, the effective portion of these cash flow hedges from that date and until March 31, 2015 (see below) was reported in &#147;Accumulated other comprehensive loss&#148; while the ineffective portion of these cash flow hedges was reported as gain under &#147;Gain /(Loss) on derivative financial instruments, net&#148; in the statement of operations for the relevant period. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">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 in 2015 of some of the Company's vessels 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 loss&#148; with respect to the corresponding swaps is being reclassified to earnings when the hedged forecasted transaction impacts the Company's earnings (i.e., when the hedged loan interest is incurred), except for that portion related to loans of the sold vessels that is being written down to earnings in the period when sale is probable, for which the forecasted transactions are no longer expected to occur. As of June 30, 2016, the notional amount of these swaps was $431,750.</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The amount recognized in &#147;Other comprehensive income/ (loss)&#148; is derived from the effective portion of unrealized losses from cash flow hedges. </font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The amounts of Gain / (Loss) on derivative financial instruments recognized in the accompanying unaudited interim condensed consolidated statements of operations are analyzed as follows:</font></div>
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    <td valign="bottom" style=" border:solid #000000 0.0px;width:439px;height:26px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="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:207px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Six month period ended June 30, </b></font></div></td>
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    <td valign="bottom" style=" border:solid #000000 0.0px;width:439px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" 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:84px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
    <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:31px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:73px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Unaudited Condensed Consolidated Statement of Operations</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:31px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:73px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Gain/(loss) on derivative instruments, net</b></i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:84px;"><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:solid #000000 0.0px;width:31px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:73px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:25px;"><div style="text-indent:26.7px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Unrealized gain/(loss) 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:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;883 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:31px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$ </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:73px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,930)</font></div></td>
  </tr>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:25px;"><div style="text-indent:26.7px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Realized gain/(loss) 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:21px;"><div style="text-indent:26.7px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,344)</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:31px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:73px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,709)</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:38px;"><div style="text-indent:26.7px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Write-off of unrealized losses related to forecasted transactions which are no longer considered probable reclassified from other comprehensive income/(loss) &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:26.7px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(227)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:31px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:73px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(42)</font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total Gain/(Loss) on derivative instruments, net</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:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(688)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:31px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$ </b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:73px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<b>(4,681)</b></font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:84px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:31px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:73px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Interest and finance costs</b></i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:84px;"><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:solid #000000 0.0px;width:31px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:73px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:25px;"><div style="text-indent:40.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other comprehensive income/(loss) (Note 8)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:40.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,491)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:31px;"><div style="text-indent:40.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:73px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(667)</font></div></td>
  </tr>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total Gain/(Loss) recognized</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:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;(1,491)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:31px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:73px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(667)</b></font></div></td>
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    <td style="width:439px;"></td>
    <td style="width:21px;"></td>
    <td style="width:84px;"></td>
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<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">An amount of approximately $814 is expected to be reclassified into earnings during the following 12-month period when realized.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In relation to the above interest rate swap agreements designated as cash flow hedges and the corresponding amount recorded in &#147;Accumulated other comprehensive loss&#148; as of June 30, 2016, and in accordance with ASC 815 &#147;<i>Derivatives and Hedging - Timing and Probability of the Hedged Forecasted Transaction</i>,&#148; the management of the Company considered the creditworthiness of its counterparties and the expectations of the forecasted transactions and determined that no events have occurred that would make the forecasted transaction not probable.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The guidance for fair value measurements applies to all assets and liabilities that are being measured and reported on a fair value basis. 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 statement requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories:</font></div>
<div style="text-align:justify;margin-left: 120.0px;margin-bottom:12.0px;text-indent:-72.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><u>Level 1:</u>&#160;&#160;&#160;&#160;&#160;&#160;Quoted market prices in active markets for identical assets or liabilities</font></div>
<div style="text-align:justify;margin-left: 120.0px;margin-bottom:12.0px;text-indent:-72.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><u>Level 2:</u>&#160;&#160;&#160;&#160;&#160;&#160;Observable market-based inputs or unobservable inputs that are corroborated by market data</font></div>
<div style="text-align:justify;margin-left: 120.0px;margin-bottom:12.0px;text-indent:-72.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><u>Level 3:</u>&#160;&#160;&#160;&#160;&#160;&#160;Unobservable inputs that are not corroborated by market data</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The following table summarizes the valuation of the Company's financial instruments as of December 31, 2015 and June 30, 2016 based on Level 2 observable inputs of the fair value hierarchy such as interest rate curves.</font></div>
<div style="text-align:justify;text-indent:0.0px;"></div>
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    <td valign="middle" colspan="4" style=" border:solid #000000 0.0px;width:461px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Significant Other Observable Inputs (Level 2)</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:245px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31, 2015</b></font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:215px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30, 2016</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:25px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:138px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(not designated as cash flow hedges)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:107px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(designated as cash flow hedges)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:109px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(not designated as cash flow hedges)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(designated as cash flow hedges)</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>ASSETS</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:138px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:107px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:109px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;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:138px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:107px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:109px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size: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;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:138px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;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;&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:107px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;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;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:109px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;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;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size: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;</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>LIABILITIES</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:138px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:107px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:109px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interest rate swaps - liability 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:138px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;7,642 </font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:107px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;807 </font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:109px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;9,155 </font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,362 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:138px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;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;7,642 </b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:107px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;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;807 </b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:109px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;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;9,155 </b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size: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;1,362 </b></font></div></td>
  </tr>
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    <td style="width:200px;"></td>
    <td style="width:138px;"></td>
    <td style="width:107px;"></td>
    <td style="width:109px;"></td>
    <td style="width:106px;"></td>
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<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The carrying values of temporary cash investments, restricted cash, accounts receivable and accounts payable approximate their fair value due to the short-term nature of these financial instruments. The fair value of long-term bank loans, bearing interest at variable interest rates, approximates their recorded values as of June 30, 2016.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The 8.00% 2019 Notes have a fixed rate, and their estimated fair value, determined through Level 1 inputs of the fair value hierarchy (quoted price on NASDAQ under the ticker symbol SBLKL), is approximately $33,000 as of June 30, 2016.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"><u>&#160;</u></font></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsequent Events<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2016</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventsAbstract', window );"><strong>Subsequent Events [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventsTextBlock', window );">Subsequent Events:</a></td>
<td class="text"><div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>15.&#160;&#160;&#160;&#160;&#160;&#160;Subsequent Events:</b></font></div>
<div style="text-align:justify;margin-left: 36.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>a)&#160;&#160;&#160;&#160;&#160;&#160;Loan developments</b></font></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As further described in Note 8, in August 2016 the Company entered into the Restructuring with its lenders.</font></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>b)&#160;&#160;&#160;&#160;&#160;&#160;Equity offering</b></font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company has announced on September 14<sup>th</sup> that it plans to make a public offering of its common shares, in order to comply with the conditions precedent of the Restructuring. The Company intends to use the net proceeds from the offering for general corporate purposes. Oaktree Capital Management, L.P. (&#147;Oaktree&#148;) and entities affiliated with the family of Mr. Petros Pappas, the Company's Chief Executive Officer (the &#147;Pappas Affiliates&#148;), which are two of the Company's significant shareholders, have expressed an interest in purchasing a substantial amount of common shares in this offering.</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="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>c)&#160;&#160;&#160;&#160;&#160;&#160;Fleet update</b></font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On July 26th, 2016 and August 10th, 2016 the Company entered into separate agreements with third parties to sell the vessels <i>Star Monisha</i> and <i>Star Aline</i> respectively. The vessel <i>Star Monisha</i> was delivered to its new owners on August 17, 2016 and the vessel <i>Star Aline</i> is expected to be delivered to its new owners until the end of September 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-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>d)</b> &#160;&#160;&#160;&#160;&#160;&#160;<b>Listing Compliance</b></font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On July 7, 2016, the Company announced that it has regained compliance with Listing Rule 5450(a)(1) of the NASDAQ Global Select Market with respect to the minimum bid price for the Company's common shares, which the NASDAQ Listing Qualifications Department confirmed in a letter to the Company dated July 6, 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-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>e)</b> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<b>Equity Award</b></font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On September 12, 2016, the Company's Board of Directors granted 345,000 restricted common shares to certain of the Company's directors and officers, as a bonus for the successful Restructuring discussed in Note 8, subject to the successful completion of the equity offering described above in Note 15(b). Out of these shares, 305,000 will vest on March 31, 2017, and the remaining 40,000 will vest on March 1, 2018.</font></div>
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<div style="text-align:justify;margin-left: 30.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.</p></div>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6829359984">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant accounting policies and recent accounting pronouncements (Policies)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 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_AccountingPoliciesAbstract', window );"><strong>Significant accounting policies and recent accounting pronouncements [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_ConsolidationPolicyTextBlock', window );">Principles of consolidation</a></td>
<td class="text"><div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Consolidation (Topic 810) - Amendments to the Consolidation Analysis:</b> 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. The Company believes that the implementation of this update has no material impact on its consolidated financial statements.</font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"></div><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_DebtPolicyTextBlock', window );">Financing costs</a></td>
<td class="text"><div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Financing Costs:</b> The Company has adopted Accounting Standards Update No. 2015-03, &#147;Simplifying the Presentation of Debt Issuance Costs,&#148; which 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, rather than as deferred finance charges with total assets, effective January 1, 2016. The guidance provides also that the new classification should be applied retrospectively to prior periods presented in the financial statements. As such, the outstanding balance of deferred finance charges as of December 31, 2015 of $16,037 (previously presented as &#147;Deferred finance charges, net&#148;) and June 30, 2016 of $11,453, are reflected against long term debt and 8.00% 2019 Notes in the accompanying balance sheets as further analyzed in Note 8. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update.</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-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Recent Accounting pronouncements: </b></i></font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In March 2016, the FASB issued ASU 2016-05, &#147;Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships,&#148; which clarifies that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under Topic 815 does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria (including those in paragraphs 815-20-35-14 through 35-18) continue to be satisfied. For public companies, the amendments in this Update are effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. For all other entities, the amendments in this Update are effective for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods within fiscal years beginning after December 15, 2018. An entity may apply the amendments in this Update on a prospective basis or on a modified retrospective basis, as defined in the Update. 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;text-indent:29.3px;"><font style="font-family:Times New Roman;font-size:16.0px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In March&#160;2016, the FASB issued ASU 2016-07, &#147;Investments - Equity Method and Joint Ventures (Topic 323)&#148; (&#147;ASU 2016-07&#148;), which simplifies the accounting for equity method investments by removing the requirement that an entity retroactively adopt the equity method of accounting if an investment qualifies for use of the equity method as a result of an increase in the level of ownership or degree of influence. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor's previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting. ASU 2016-07 is effective for fiscal years beginning after December&#160;15, 2016, and interim periods within those years, and must be applied prospectively. Early adoption 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;text-indent:29.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In March&#160;2016, the FASB issued ASU 2016-09, &#147;Compensation-Stock Compensation - Improvements to Employee Share-Based Payment Accounting (Topic 718)&#148; (&#147;ASU 2016-09&#148;), which involves several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Under the new standard, all excess income tax benefits and deficiencies are to be recognized as income tax expense or benefit in the income statement and the tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur. An entity should also recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period. Excess tax benefits should be classified along with other income tax cash flows as an operating activity. With regard to forfeitures, the entity may make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. ASU 2016-09 is effective for fiscal years beginning after December&#160;15, 2016 including interim periods within that reporting period. Early adoption 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;text-indent:29.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In May and April 2016, the FASB issued two Updates with respect to Topic 606: ASU 2016-10, &#147;Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing&#148; and ASU 2016-12, &#147;Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients.&#148; The amendments in these Updates do not change the core principle of the guidance in Topic 606, which is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services by applying the following steps: (1) Identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. The amendments in Update 2016-10 simply clarify the following two aspects of Topic 606: (1) identifying performance obligations and (2) licensing implementation guidance. The amendments in Update 2016-12 similarly affect only certain narrow aspects of Topic 606; namely, (1) &#147;Assessing the Collectibility Criterion in Paragraph 606-10-25-1(e) and Accounting for Contracts That Do Not Meet the Criteria for Step 1 (Applying Paragraph 606-10-25-7),&#148; (2) &#147;Presentation of Sales Taxes and Other Similar Taxes Collected from Customers,&#148; (3) &#147;Noncash Consideration,&#148; (4) &#147;Contract Modifications at Transition,&#148; (5) &#147;Completed Contracts at Transition,&#148; and (6) &#160;&#147;Technical Correction.&#148; The amendments in these Updates also affect the guidance in Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606), which is not yet effective. The effective date and transition requirements for the amendments in these Updates are the same as the effective date and transition requirements in Topic 606 (and any other Topic amended by Update 2014-09). Accounting Standards Update 2015-14, &#147;Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,&#148; has deferred the effective date of Update 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>
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<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=68058157&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=64809438&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 3<br> -Subparagraph (SX 210.3A-03)<br> -URI http://asc.fasb.org/extlink&amp;oid=27015204&amp;loc=d3e355100-122828<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 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></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy related to debt. Includes, but is not limited to, debt issuance costs, the effects of refinancings, method of amortizing debt issuance costs and original issue discount, and classifications 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 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=68058157&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">
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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>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>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6636366320">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and General Information (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 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_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 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;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:right;text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:181px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:136px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Date</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="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:24px;height:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Wholly Owned Subsidiaries</b></font></div></td>
    <td valign="middle" style=" border-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:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Vessel Name</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>DWT</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Delivered to Star Bulk</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Year Built</b></font></div></td>
    <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1 &#160;&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Ennea LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Poseidon</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">209,475</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February 26,&#160;2016</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2016</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2 &#160;&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Sea Diamond LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Goliath </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">209,537</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July 15, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">3 &#160;&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Pearl Shiptrade LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Gargantua </i>2</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">209,529</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">April 2, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">4 &#160;&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Coral Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Maharaj </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">209,472</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July 15, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">5 &#160;&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Seeker LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Libra</i> <i>(1) </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">207,765</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">June 6, 2016</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2016</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">6 &#160;&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Clearwater Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Marisa &#160;(1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">207,709</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March 11 2016</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2016</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">7 &#160;&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Cape Ocean Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Leviathan </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">182,511</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;19, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2014</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">8 &#160;&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Cape Horizon Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Peloreus </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">182,496</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;22, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2014</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">9 &#160;&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Sandra Shipco LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Pauline </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">180,274</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2008</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">10 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Christine Shipco LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Martha </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">180,274</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 31, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2010</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">11 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Pacific Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Pantagruel </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">180,181</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2004</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">12 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Borealis LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Borealis</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">179,678</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;9, 2011</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">13 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Polaris LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Polaris</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">179,600</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November&#160;14, 2011</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">14 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident V LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Angie </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">177,931</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2007</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">15 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Sky Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Big Fish </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">177,662</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2004</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">16 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Global Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Kymopolia </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">176,990</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">17 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Sea Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Big Bang </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">174,109</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2007</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">18 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Aurora LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Aurora</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">171,199</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;8, 2010</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2000</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">19 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Lowlands Beilun Shipco LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Despoina </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">170,162</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1999</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">20 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident VII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Eleonora </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">164,218</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 3, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2001</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">21 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident VI LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Monisha (Note 15(c)) </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">164,218</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February 2, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2001</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">22 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Nautical Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Amami </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">23 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Majestic Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Madredeus </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">24 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Sirius LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Sirius</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March&#160;7, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">25 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Vega LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Vega</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February&#160;13, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">26 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Alta I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Angelina </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,981</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 5, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">27 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Alta II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Gwyneth </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,790</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 5, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">28 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Kamila </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,769</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;3, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2005</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">29 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Grain Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Pendulum </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,619</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">30 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XIX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Maria </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,598</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November 5, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2007</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">31 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Markella </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,594</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2007</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">32 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident IX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Danai </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,574</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 21, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">33 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XI LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Georgia </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,298</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 14, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">34 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident VIII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Sophia </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,269</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 31, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2007</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">35 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XVI LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Mariella </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,266</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;19, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">36 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XIV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Moira </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,257</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November 19, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">37 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XVIII LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Nina </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,224</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 5, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">38 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident X LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Renee </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,221</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 18, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">39 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Nasia &#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,220</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">August&#160;29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">40 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XIII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Laura </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,209</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 8, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">41 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Jennifer </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,209</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">April 15, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">42 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XVII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Helena </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,187</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">43 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Mineral Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Mercurial Virgo </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">81,545</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2013</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">44 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident&#160;III LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Iris </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">76,466</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;8, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2004</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">45 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident IV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Aline (Note 15 (c)) </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">76,429</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;4, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2004</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">46 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Emily </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">76,417</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;16, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2004</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">47 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXV Ltd.</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Vanessa </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">72,493</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November 7, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1999</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">48 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Spring Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Idee Fixe (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63,458</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March 25, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">49 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Orion Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Roberta (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63,426</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March 31, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">50 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Success Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Laura (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63,399</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">April 7, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">51 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Ultra Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Kaley (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63,283</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">June 26, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Blooming Navigation LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Kennadi </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63,262</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 8, 2016</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2016</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">53 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Jasmine Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Mackenzie</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63,226</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March 2, 2016</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2016</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">54 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Challenger&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Challenger</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,462</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December&#160;12, 2013</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2012</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">55 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Challenger&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Fighter</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,455</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December&#160;30, 2013</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2013</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">56 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Axe&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Lutas</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,347</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 6, 2016</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2016</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">57 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Aurelia Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Honey Badger </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,320</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February 27, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">58 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Rainbow Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Wolverine </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,292</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February 27, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">59 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Axe I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Antares</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,258</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 9, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">60 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Asia&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Aquarius</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">60,916</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July 22, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Asia&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Pisces</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">60,916</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">August 7, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">62 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Glory Supra Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Strange Attractor </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">55,742</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Omicron LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Omicron</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">53,489</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">April&#160;17, 2008</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2005</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">64 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Gamma LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Gamma</i> </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">53,098</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January&#160;4, 2008</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2002</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">65 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Zeta LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Zeta</i> </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,994</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January&#160;2, 2008</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2003</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">66 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Delta LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Delta </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,434</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January&#160;2, 2008</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2000</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">67 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Theta LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Theta</i> </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,425</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December&#160;6, 2007</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2003</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">68 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Epsilon LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Epsilon </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,402</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December&#160;3, 2007</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2001</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">69 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Cosmo LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Cosmo</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,247</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;1, 2008</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2005</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">70 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:181px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Kappa LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Kappa </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,055</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:132px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December&#160;14, 2007</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:44px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2001</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:12px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:181px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:136px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Total dwt</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:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>7,421,255</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:132px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:44px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-indent:0.0px;">&#160;</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-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1)&#160;&#160;&#160;&#160;&#160;&#160;Vessels subject to a capital bareboat lease (Note 5)</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"></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_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:27px;height:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:212px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Wholly Owned Subsidiaries</b></font></div></td>
    <td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:199px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Newbuildings Name</b></font></div></td>
    <td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Type</b></font></div></td>
    <td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>DWT</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Expected Delivery</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:27px;height:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Date</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:27px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:212px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Breezer LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1371 (tbn <i>Star Virgo</i>) (1)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Jan-17</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:27px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:212px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Domus Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1360 (tbn <i>Star Ariadne</i>) (1) </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Feb-17</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:27px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">3 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:212px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Castle&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1342 (tbn <i>Star Gemini</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Jul-17</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:27px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">4 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:212px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Festive Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1361 (tbn <i>Star Magnanimus</i>) (1) </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Jan-18</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:27px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">5 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:212px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Castle&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1343 (tbn <i>Star Leo</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Jan-18</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:27px;height:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:212px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:199px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Total dwt</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="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:57px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>1,040,000</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>&#160;</b></font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:6.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1)&#160;&#160;&#160;&#160;&#160;&#160;Vessels subject to a capital bareboat lease (Note 6)</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:6.0px;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_ListNonVesselOwningSubsidiaries', window );">List of Non-vessel owning 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:24px;height:11px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Wholly Owned Subsidiaries</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:260px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1 &#160;&#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Bulk Management Inc.</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">23 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Mega LLC </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2 &#160;&#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Starbulk S.A.</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">24 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Big LLC </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">3 &#160;&#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Bulk Manning LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">25 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Gravity Shipping LLC </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">4 &#160;&#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Bulk Shipmanagement Company (Cyprus) Limited</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">26 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">White Sand Shipping LLC </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">5 &#160;&#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Optima Shipping Limited</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">27 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXVI LLC </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">6 &#160;&#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Omas LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">28 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Premier Voyage LLC </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">7 &#160;&#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Synergy LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">29 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXII LLC </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">8 &#160;&#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Oceanbulk Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">30 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Dioriga Shipping Co.</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">9 &#160;&#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Oceanbulk Carriers LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">31 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">KMSRX Holdings LLC</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">10 &#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">International Holdings LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">32 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">L.A. Cape Shipping LLC</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">11 &#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Unity Holding LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">33 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Cape Confidence Shipping LLC</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">12 &#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Bulk (USA) LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">34 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Cape Runner Shipping LLC</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">13 &#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXI LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">35 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Olympia Shiptrade LLC</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">14 &#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXIV LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">36 &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:260px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Victory Shipping LLC</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">15 &#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXVII LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">37 &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:260px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Cape I LLC</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">16 &#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXXI LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">38 &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:260px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Oday Marine LLC</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">17 &#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXIX LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">39 &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:260px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Searay Maritime LLC</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">18 &#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXVIII LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">40 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXIII LLC </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">19 &#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Lamda LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">41 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Positive Shipping Company</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">20 &#160;&#160;&#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Alpha LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">42 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">OOCape1 Holdings LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">21 &#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Beta LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">43 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXX LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">22 &#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 1.0px; border-bottom:solid #000000 0.0px;width:266px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Ypsilon LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">44 &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:260px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Cape&#160;II LLC</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_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="middle" rowspan="3" style=" border:solid #000000 0.0px;width:302px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Vessel Owning Company</b></font></div></td>
    <td valign="middle" rowspan="3" style=" border:solid #000000 0.0px;width:144px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Vessel Name</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>DWT</b></font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Year Built</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" colspan="3" style=" border:solid #000000 0.0px;width:147px;height:11px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" colspan="3" style=" border:solid #000000 0.0px;width:147px;height:11px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:302px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Serenity Maritime Inc.</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:144px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Serenity I</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">53,688</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2006</font></div></td>
  </tr>
</table>
<div></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_ScheduleOfSaleLeasebackTransactionsTextBlock', window );">Schedule of Sale Leaseback Transactions</a></td>
<td class="text"><div style="text-align:center;text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="top" style=" border:solid #000000 0.0px;width:248px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Vessel Name</b></font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:157px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Type</b></font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>DWT</b></font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Year Built</b></font></div></td>
  </tr>
  <tr>
    <td valign="top" style=" border:solid #000000 0.0px;width:248px;"><div style="margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Astakos</i></font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:157px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Supramax</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:97px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">58,722</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2012</font></div></td>
  </tr>
</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_ListNewbuildingsTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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>
</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_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><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</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_sblk_ListOfSubsidiariesTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 subsidiaries.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_ListOfSubsidiariesTableTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of vessels under commercial and technical management.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock</td>
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<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>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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>
</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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<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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<tr>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6810037696">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions with Related Parties (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 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_RelatedPartyTransactionsAbstract', window );"><strong>Transactions with Related Parties [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_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:340px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Balance Sheet</b></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: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:118px;"><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;">&#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:98px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:27px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:118px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31, 2015</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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>June 30, 2016</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Assets</b></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:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Oceanbulk Maritime S.A. and its affiliates</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,209</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">672</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:13px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total Assets</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,209</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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>672</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:13px;"><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;">&#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:118px;"><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;">&#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:98px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Liabilities</b></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:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:118px;"><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;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interchart Shipping Inc. </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:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">8</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">125</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Combine Marine Ltd.</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: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:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">9</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:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Oceanbulk Maritime S.A. and its affiliates</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: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:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">33</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:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">29</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Management and Directors Fees</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:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">315</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">254</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Managed Vessels of Oceanbulk Shipping LLC</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: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:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7</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:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:13px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Oceanbulk Sellers</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: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:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">50</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:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:13px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total Liabilities</b></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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>422</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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>415</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:340px;height:13px;"><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:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:118px;"><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-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:34px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Statements of Operations</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-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="bottom" 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:257px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Six month period ended <br/>June 30,</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
    <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:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Voyage expenses-Interchart </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><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:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1,650) &#160;</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-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1,650) &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Executive directors consultancy 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-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(317) &#160;</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-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(248) &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Non-executive directors compensation </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(79) &#160;</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-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(75) &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Office rent - Combine Marine Ltd. </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(17) &#160;</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-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(17) &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Management fee expense - Maryville Maritime Inc.</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(315) &#160;</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-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:340px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interest on Excel Vessel Bridge Facility</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:118px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(220) &#160;</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-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
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<div></div><span></span>
</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_RelatedPartyTransactionsAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:stringItemType</td>
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<td>na</td>
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<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>
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<td>nonnum:textBlockItemType</td>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6818968448">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Inventories (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 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_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:114px;height:26px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31, 2015</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30, 2016</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:114px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Lubricants</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7,438</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7,273</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:114px;height:13px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Bunkers</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,809</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">9,609</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:114px;height:13px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; 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:Times New Roman;font-size:13.3px;color:#000000; "><b>14,247</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>16,882</b></font></div></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_InventoryDisclosureAbstract</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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 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)(a))<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 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 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(6)(c))<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">
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<head>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6813611312">
<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">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 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_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>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:281px;height:26px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31, 2015</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30, 2016</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:281px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Cost</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:281px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Vessels</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2,025,688</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2,096,931</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:281px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other fixed assets</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,810</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,848</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:281px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total cost</b></font></div></td>
    <td valign="middle" style=" border: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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2,027,498</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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2,098,779</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:281px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Accumulated depreciation</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(269,946</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(296,272</font></div></td><td valign="middle"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:281px;height:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Vessels and other fixed assets, net</b></font></div></td>
    <td valign="middle" style=" border: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:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,757,552</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:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,802,507</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:351px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Twelve month periods ending</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Amount</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2017</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">17,689</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2018</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">17,647</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2019</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">18,534</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2020</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">21,439</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2021</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">21,973</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2022 and thereafter</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;">&#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:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">116,710</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total capital lease minimum payments</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>213,992</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:14px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Excluding bareboat interest </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">51,259</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total lease commitments</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>162,733</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Lease commitments -&#160;current portion</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">9,137</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Lease commitments -&#160;non-current portion</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">153,596</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_PropertyPlantAndEquipmentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_PropertyPlantAndEquipmentAbstract</td>
</tr>
<tr>
<td style="padding-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>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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 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>
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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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6810020336">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Advances for vessels under construction and acquisition of vessels (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 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_sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract', window );"><strong>Advances for vessels under construction and acquisition of vessels [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AdvancesForVesselsAcquisitionsTableTextBlock', window );">Advances for vessels under construction and acquisition of vessels</a></td>
<td class="text"><div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:39px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><br/><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31, 2015</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30, 2016</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Pre-delivery Yard installments and Fair value adjustment</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">65,009</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">26,054</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Bareboat capital leases -&#160;upfront hire &amp; handling fees</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">54,428</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">25,272</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Capitalized interest and finance costs</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,301</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,552</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other capitalized 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:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2,172</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,014</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:314px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>127,910</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>55,892</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 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">
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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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6683642032">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-term Debt (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2016</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_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock', window );">Long-term debt, Principal payments</a></td>
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<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:334px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Twelve month periods ending</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Amount</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2017</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2018</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2019</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">288,122</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2020</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">218,939</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2021</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">131,636</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2022 and thereafter</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">132,892</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total Long term debt</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>771,589</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:334px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Unamortized Deferred financing fees</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">9,992</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total Long term debt, net</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>761,597</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Current portion of long term debt</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:334px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Long term debt, net</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:37px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">761,597</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_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:373px;height:27px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; 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:Times New Roman;font-size:13.3px;color:#000000; "><b>Six month period ended <br/>June 30,</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:83px;height:15px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><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;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:373px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interest on long term debt and capital leases</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$16,991 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$19,651 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:373px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Less: Interest capitalized </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(6,221) &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><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;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(2,578) &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:373px;height:38px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other Comprehensive Income (Note 14)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,491 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;667 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:373px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Amortization of deferred finance charges</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,199 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><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;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,561 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:373px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other bank and finance charges </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">411</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">393</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:373px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Interest and finance costs</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:83px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$13,871 </b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$19,694 </b></font></div></td>
  </tr>
  <tr>
    <td style="width:373px;"></td>
    <td style="width:83px;"></td>
    <td style="width:26px;"></td>
    <td style="width:90px;"></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_InterestFinanceCostsTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 interest and finance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_InterestFinanceCostsTableTextBlock</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>nonnum:textBlockItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<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>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock</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>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6818956000">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings / (Loss) per Share (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 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_EarningsPerShareAbstract', window );"><strong>Earnings / (Loss) per Share [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock', window );">Schedule of Earnings / (Loss) per share</a></td>
<td class="text"><div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:234px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Six month period ended June 30, </b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Income / (Loss) :</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Net income / (loss)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(105,197</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(81,696</font></div></td><td valign="middle"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:6px;"><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;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;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:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Weighted average common shares outstanding, basic</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">34,347,332 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">43,880,713 &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;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:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(3.06) &#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(1.86) &#160;</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Effect of dilutive securities:</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;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:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Weighted average common shares outstanding, diluted</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">34,347,332 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">43,880,713 &#160;</font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:331px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;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:17px;"><div style="text-indent:133.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
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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:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(1.86)</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 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>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity Incentive Plans (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2016</div></th></tr>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:205px;height:37px;"><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="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Number of options</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;">&#160;</div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:142px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Weighted Average Grant Date Fair Value</b></font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:205px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Outstanding at January 1, 2016</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;104,250 </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;27.5 </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:205px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Granted</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:205px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Vested</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:205px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Outstanding as of June 30, 2016</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;104,250 </b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">27.5</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</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:double #000000 3.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7.0605</font></div></td>
  </tr>
  <tr>
    <td style="width:205px;"></td>
    <td style="width:18px;"></td>
    <td style="width:74px;"></td>
    <td style="width:19px;"></td>
    <td style="width:23px;"></td>
    <td style="width:103px;"></td>
    <td style="width:16px;"></td>
    <td style="width:21px;"></td>
    <td style="width:120px;"></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="middle" style=" border:solid #000000 0.0px;width:286px;height:39px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><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:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Number of shares</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Weighted Average Grant Date Fair Value</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Unvested as at January 1, 2015</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">78,833</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">54.30</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Granted</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;135,230 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">17.75</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Vested</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(78,833</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">54.30</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Unvested as at June 30, 2015</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;135,230 </b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</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:double #000000 3.0px;width:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;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;17.75 </b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:286px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:124px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:160px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Unvested as at January 1, 2016</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">135,230</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">17.75</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Granted</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;690,000 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><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:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3.75 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Cancelled</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(3,185</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;17.75 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Vested</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(132,045</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;17.75 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:286px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Unvested as at June 30, 2016</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:124px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>690,000</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</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:double #000000 3.0px;width:160px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>3.75</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>
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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>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><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)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></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>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6818898720">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2016</div></th></tr>
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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_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:191px;height:13px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" colspan="7" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:476px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Twelve month periods ending June 30,</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>plus inflows/ minus outflows</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2017</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2018</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2019</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2020</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2021</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2022 and thereafter</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Future, minimum, non-cancellable charter revenue (1) </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$21,372 </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:Times New Roman;font-size:13.3px;color:#000000; ">$21,372 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#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:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#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:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;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:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(4,156)</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:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;(3,595)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(561)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#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:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#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:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Bareboat capital leases - upfront hire &amp; handling fees (3)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(6,808)</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:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;(6,472)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(336)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#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:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#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:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Bareboat commitments charter hire (4) </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;(164,765)</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:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;(3,848)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;(10,467)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;(12,512)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;(12,450)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;(12,699)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;(112,789)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;height:13px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b> </font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>($154,357)</b></font></div></td>
    <td valign="middle" style=" border-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:Times New Roman;font-size:13.3px;color:#000000; "><b>$7,457 </b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>($11,364)</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>($12,512)</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>($12,450)</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>($12,699)</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>($112,789)</b></font></div></td>
  </tr>
  <tr>
    <td style="width:191px;"></td>
    <td style="width:74px;"></td>
    <td style="width:58px;"></td>
    <td style="width:67px;"></td>
    <td style="width:67px;"></td>
    <td style="width:67px;"></td>
    <td style="width:67px;"></td>
    <td style="width:74px;"></td>
  </tr>
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<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1)&#160;&#160;&#160;&#160;&#160;&#160;The amounts represent the minimum contractual charter revenues to be generated from the existing non-cancellable time and freight charters until their expiration, net of address commission, assuming no off-hire days other than those related to scheduled interim surveys 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:Times New Roman;font-size:13.3px;color:#000000; ">(2)&#160;&#160;&#160;&#160;&#160;&#160;The amounts represent the Company's commitments under the operating lease arrangement for <i>Maiden Voyage</i> 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:Times New Roman;font-size:13.3px;color:#000000; ">(3) &#160;&#160;&#160;&#160;&#160;&#160;The amounts represent the Company's commitments for upfront hire and handling fees under the bareboat lease arrangements for the vessels 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:Times New Roman;font-size:13.3px;color:#000000; ">(4)&#160;&#160;&#160;&#160;&#160;&#160;The amounts represent the Company's commitments for charter hire fees under the bareboat lease arrangements for the vessels under construction. The bareboat charter hire is comprised of both a fixed and a variable portion; the variable portion is calculated based on the 6-month LIBOR rate of 0.92415%, as of June 30, 2016.</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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6797849888">
<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">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 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_FairValueDisclosuresAbstract', window );"><strong>Fair value measurements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock', window );">Derivative instruments effect on statement of operations</a></td>
<td class="text"><div style="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:439px;height:26px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="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:207px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Six month period ended June 30, </b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:439px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" 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:84px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
    <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:31px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:73px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Unaudited Condensed Consolidated Statement of Operations</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:31px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:73px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Gain/(loss) on derivative instruments, net</b></i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:84px;"><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:solid #000000 0.0px;width:31px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:73px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:25px;"><div style="text-indent:26.7px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Unrealized gain/(loss) 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:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;883 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:31px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$ </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:73px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,930)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:25px;"><div style="text-indent:26.7px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Realized gain/(loss) 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:21px;"><div style="text-indent:26.7px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,344)</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:31px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:73px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,709)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:38px;"><div style="text-indent:26.7px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Write-off of unrealized losses related to forecasted transactions which are no longer considered probable reclassified from other comprehensive income/(loss) &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:26.7px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(227)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:31px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:73px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(42)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total Gain/(Loss) on derivative instruments, net</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:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(688)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:31px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$ </b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:73px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<b>(4,681)</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:84px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:31px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:73px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Interest and finance costs</b></i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:84px;"><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:solid #000000 0.0px;width:31px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:73px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:25px;"><div style="text-indent:40.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other comprehensive income/(loss) (Note 8)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:40.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,491)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:31px;"><div style="text-indent:40.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:73px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(667)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:439px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total Gain/(Loss) recognized</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:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;(1,491)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:31px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:73px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(667)</b></font></div></td>
  </tr>
  <tr>
    <td style="width:439px;"></td>
    <td style="width:21px;"></td>
    <td style="width:84px;"></td>
    <td style="width:17px;"></td>
    <td style="width:31px;"></td>
    <td style="width:73px;"></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-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:200px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" colspan="4" style=" border:solid #000000 0.0px;width:461px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Significant Other Observable Inputs (Level 2)</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:245px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31, 2015</b></font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:215px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30, 2016</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:25px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:138px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(not designated as cash flow hedges)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:107px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(designated as cash flow hedges)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:109px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(not designated as cash flow hedges)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(designated as cash flow hedges)</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>ASSETS</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:138px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:107px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:109px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;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:138px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:107px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:109px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size: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;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:138px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;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;&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:107px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;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;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:109px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;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;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size: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;</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>LIABILITIES</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:138px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:107px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:109px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interest rate swaps - liability 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:138px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;7,642 </font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:107px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;807 </font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:109px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;9,155 </font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,362 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:200px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:138px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;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;7,642 </b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:107px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;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;807 </b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:109px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;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;9,155 </b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size: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;1,362 </b></font></div></td>
  </tr>
  <tr>
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    <td style="width:138px;"></td>
    <td style="width:107px;"></td>
    <td style="width:109px;"></td>
    <td style="width:106px;"></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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<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=64837297&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">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).</p></div>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6834553728">
<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="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2016</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_StarPoseidonMember', window );">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">209,475<span></span>
</td>
</tr>
<tr class="ro">
<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 26, 2016<span></span>
</td>
</tr>
<tr class="re">
<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">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_GoliathMember', window );">Goliath</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>Vessel</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_VesselCapacity', window );">DWT</a></td>
<td class="nump">209,537<span></span>
</td>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">209,529<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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 );">Star Libra (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_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">207,765<span></span>
</td>
</tr>
<tr class="ro">
<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 6, 2016<span></span>
</td>
</tr>
<tr class="re">
<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">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_StarMarisaMember', window );">Star Marisa (1)</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>Vessel</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_VesselCapacity', window );">DWT</a></td>
<td class="nump">207,709<span></span>
</td>
</tr>
<tr class="re">
<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 11, 2016<span></span>
</td>
</tr>
<tr class="ro">
<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">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_LeviathanMember', window );">Leviathan</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">182,511<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_SandraMember', window );">Star Pauline</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " 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">180,274<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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</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>Vessel</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_VesselCapacity', window );">DWT</a></td>
<td class="nump">180,274<span></span>
</td>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">180,181<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">179,600<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">177,662<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">July 11, 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">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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_LowlandsBeilunMember', window );">Star Despoina</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " 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">170,162<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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 (Note 15 (c))</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">164,218<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">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">February 13, 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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">82,790<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">82,594<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">82,298<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">82,266<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">82,224<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">82,220<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">82,209<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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 (Note 15 (c))</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">76,429<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">72,493<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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 (1)</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>Vessel</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_VesselCapacity', window );">DWT</a></td>
<td class="nump">63,458<span></span>
</td>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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 (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_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">63,426<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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 (1)</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>Vessel</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_VesselCapacity', window );">DWT</a></td>
<td class="nump">63,399<span></span>
</td>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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 (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_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">63,283<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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</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>Vessel</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_VesselCapacity', window );">DWT</a></td>
<td class="nump">63,262<span></span>
</td>
</tr>
<tr class="re">
<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, 2016<span></span>
</td>
</tr>
<tr class="ro">
<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">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_MackenzieMember', window );">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">63,226<span></span>
</td>
</tr>
<tr class="ro">
<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 2, 2016<span></span>
</td>
</tr>
<tr class="re">
<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">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_StarChallengerMember', window );">Star Challenger</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>Vessel</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_VesselCapacity', window );">DWT</a></td>
<td class="nump">61,462<span></span>
</td>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">61,455<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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</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>Vessel</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_VesselCapacity', window );">DWT</a></td>
<td class="nump">61,347<span></span>
</td>
</tr>
<tr class="re">
<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 6, 2016<span></span>
</td>
</tr>
<tr class="ro">
<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">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_HoneyBadgerMember', window );">Honey Badger</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">61,320<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">61,258<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">60,916<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">53,489<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">52,994<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">52,425<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">52,247<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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="ro">
<td class="pl custom" style="border-bottom: 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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">7,421,255<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_StarPoseidonMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarPoseidonMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></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_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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</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_StarMarisaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMarisaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></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_SandraMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_SandraMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_ChristineMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_ChristineMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_PantagruelIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_PantagruelIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarBorealisMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarBorealisMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarPolarisMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarPolarisMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAngieMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAngieMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_BigFishIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_BigFishIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_KymopoliaIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_KymopoliaIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_BigBangIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_BigBangIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAuroraMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAuroraMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_LowlandsBeilunMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_LowlandsBeilunMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarEleonoraMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarEleonoraMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMorishaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMorishaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_AmamiIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_AmamiIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MadredeusIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MadredeusIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarSirius2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarSirius2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarVega2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarVega2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAngelinaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAngelinaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarGwynethMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarGwynethMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarKamilaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarKamilaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_PendulumIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_PendulumIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMariaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMariaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMarkelaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMarkelaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarDanaiMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarDanaiMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarGeorgiaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarGeorgiaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarSophiaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarSophiaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMariellaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMariellaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMoiraMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMoiraMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarNinaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarNinaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarReneeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarReneeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarNasiaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarNasiaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarLauraMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarLauraMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarJenniferMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarJenniferMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarHelenaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarHelenaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MercurialVirgoIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MercurialVirgoIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_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>
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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_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>
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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_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>
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</tr>
<tr>
<td><strong> Data 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_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>
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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_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>
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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>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></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>
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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_KennadiMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_KennadiMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></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_MackenzieMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MackenzieMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></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>
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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_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_StarLutasMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarLutasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></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>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></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_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>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></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>
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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>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_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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<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 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>
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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_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>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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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>
</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>
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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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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>45
<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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6813527968">
<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">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2016</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_HullNo1371Member', window );">HN 1371 (tbn Star Virgo) (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_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">Jan-17<span></span>
</td>
</tr>
<tr class="rh">
<td class="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) (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_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">Feb-17<span></span>
</td>
</tr>
<tr class="rh">
<td class="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">Jul-17<span></span>
</td>
</tr>
<tr class="rh">
<td class="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) (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_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">Jan-18<span></span>
</td>
</tr>
<tr class="rh">
<td class="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">Jan-18<span></span>
</td>
</tr>
<tr class="rh">
<td class="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 );">Newbuildings</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">1,040,000<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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<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_HullNo1371Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HullNo1371Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1360Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1360Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_Hull1342Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_Hull1342Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
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<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_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1361Member</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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<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_PropertyPlantAndEquipmentByTypeAxis=sblk_Hull1343Member</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>
<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_PropertyPlantAndEquipmentByTypeAxis=sblk_NewbuildingVesselsMember</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>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>46
<FILENAME>R36.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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6816083568">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and General Information (Details)<br></strong></div></th>
<th class="th" colspan="3">6 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Jun. 30, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Jun. 20, 2016</div></th>
<th class="th">
<div>Jun. 30, 2015 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationDateOfIncorporation', window );">Date of Incorporation</a></td>
<td class="text">Dec. 13,  2006<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockByUniqueDescriptionAxis=sblk_ReverseStockSplitMember', window );">Reverse stock split</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteStockSplitConversionRatio1', window );">Reverse stock split, Conversion ratio</a></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_StockholdersEquityReverseStockSplit', window );">Description of the reverse stock split</a></td>
<td class="text">Effective June 20, 2016, the Company effected a 5-for-1 reverse stock split on its issued and outstanding common stock (Note 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_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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_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>
</tr>
<tr class="ro">
<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="nump">$ 750<span></span>
</td>
</tr>
<tr class="re">
<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>
<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>
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<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_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>
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<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_StockholdersEquityNoteStockSplitConversionRatio1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 stock split, for example but not limited to, one share converted to two or two shares converted to one.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityNoteStockSplitConversionRatio1</td>
</tr>
<tr>
<td style="padding-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_StockholdersEquityReverseStockSplit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 reverse stock split arrangement. Also provide the retroactive effect given by the reverse split that occurs after the balance sheet 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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityReverseStockSplit</td>
</tr>
<tr>
<td style="padding-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_ConversionOfStockByUniqueDescriptionAxis=sblk_ReverseStockSplitMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConversionOfStockByUniqueDescriptionAxis=sblk_ReverseStockSplitMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></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>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></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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</div>
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</DOCUMENT>
<DOCUMENT>
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<SEQUENCE>47
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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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6582841632">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Significant accounting policies and recent accounting pronouncements (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2016</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_ChangeInAccountingEstimateLineItems', window );"><strong>Change in Accounting Estimate [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet', window );">Deferred finance charges, net</a></td>
<td class="nump">$ 11,453<span></span>
</td>
<td class="nump">$ 16,037<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_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_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 unamortized debt discount (premium) 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 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=64930785&amp;loc=d3e28555-108399<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_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>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>48
<FILENAME>R38.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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6828692944">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Transactions with Related Parties - Balance Sheet (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2016</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_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">$ 672<span></span>
</td>
<td class="nump">$ 1,209<span></span>
</td>
</tr>
<tr class="re">
<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">415<span></span>
</td>
<td class="nump">422<span></span>
</td>
</tr>
<tr class="rh">
<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">672<span></span>
</td>
<td class="nump">1,209<span></span>
</td>
</tr>
<tr class="ro">
<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">29<span></span>
</td>
<td class="nump">33<span></span>
</td>
</tr>
<tr class="rh">
<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="re">
<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">125<span></span>
</td>
<td class="nump">8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_CombineMarineLtdMember', window );">Combine Marine Ltd.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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">0<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=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="re">
<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">254<span></span>
</td>
<td class="nump">315<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ManagedVesselsOceanBulkShippingMember', window );">Managed Vessels of Oceanbulk Shipping LLC</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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">7<span></span>
</td>
<td class="nump">7<span></span>
</td>
</tr>
<tr class="rh">
<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="re">
<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">$ 0<span></span>
</td>
<td class="nump">$ 50<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 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 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 (d)<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 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 FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(11))<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_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>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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>
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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_RelatedPartyTransactionsByRelatedPartyAxis=sblk_InterchartShippingMember</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>
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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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_CombineMarineLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_CombineMarineLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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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=us-gaap_ManagementMember</td>
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<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ManagedVesselsOceanBulkShippingMember</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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<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_RelatedPartyTransactionsByRelatedPartyAxis=sblk_OceanbulkSellersMember</td>
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<TYPE>XML
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6829053008">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions with Related Parties - Statements of Operations (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2016</div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeaseAndRentalExpense', window );">Office rent</a></td>
<td class="num">$ (1,918)<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_ProfessionalAndContractServicesExpense', window );">Management fee expense</a></td>
<td class="num">(3,911)<span></span>
</td>
<td class="num">(4,063)<span></span>
</td>
</tr>
<tr class="ro">
<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">(19,651)<span></span>
</td>
<td class="num">(16,991)<span></span>
</td>
</tr>
<tr class="re">
<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">91<span></span>
</td>
<td class="nump">136<span></span>
</td>
</tr>
<tr class="rh">
<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>
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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>
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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_RelatedPartyCosts', window );">Voyage expenses</a></td>
<td class="num">(1,650)<span></span>
</td>
<td class="num">(1,650)<span></span>
</td>
</tr>
<tr class="rh">
<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>
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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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ServiceManagementCosts', window );">Consultancy fees</a></td>
<td class="num">(248)<span></span>
</td>
<td class="num">(317)<span></span>
</td>
</tr>
<tr class="rh">
<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>
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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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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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_NonExecutiveDirectorsCompensation', window );">Compensation</a></td>
<td class="num">(75)<span></span>
</td>
<td class="num">(79)<span></span>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_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="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>
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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_LeaseAndRentalExpense', window );">Office rent</a></td>
<td class="num">(17)<span></span>
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<td class="num">(17)<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_RelatedPartyTransactionsByRelatedPartyAxis=sblk_MaryvilleMaritimeIncMember', window );">Maryville Maritime Inc.</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">0<span></span>
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<td class="num">(315)<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_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ExcelVesselBridgeFacilityIIIMember', window );">Excel Vessel Bridge Facility</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="num">$ (220)<span></span>
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<div style="display: none;">
<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>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<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 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=64930785&amp;loc=d3e28555-108399<br><br>Reference 3: 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=63488584&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=63488584&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=63488584&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_InterchartShippingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_InterchartShippingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_ExecutiveOfficerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_ExecutiveOfficerMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</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_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>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>50
<FILENAME>R40.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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6810119808">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Inventories (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2016</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_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">$ 7,273<span></span>
</td>
<td class="nump">$ 7,438<span></span>
</td>
</tr>
<tr class="re">
<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">9,609<span></span>
</td>
<td class="nump">6,809<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Total</a></td>
<td class="nump">$ 16,882<span></span>
</td>
<td class="nump">$ 14,247<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=68049868&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>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>51
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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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6810386624">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Vessels and other fixed assets, net (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2016</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_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">$ 1,802,507<span></span>
</td>
<td class="nump">$ 1,757,552<span></span>
</td>
</tr>
<tr class="rh">
<td 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">2,096,931<span></span>
</td>
<td class="nump">2,025,688<span></span>
</td>
</tr>
<tr class="ro">
<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">1,848<span></span>
</td>
<td class="nump">1,810<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">2,098,779<span></span>
</td>
<td class="nump">2,027,498<span></span>
</td>
</tr>
<tr class="ro">
<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">$ (296,272)<span></span>
</td>
<td class="num">$ (269,946)<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>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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</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>
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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>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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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>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_PropertyPlantAndEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- 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>
</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>
<td></td>
</tr>
</table></div>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>52
<FILENAME>R42.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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6816093856">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Vessels and Other Fixed Assets, Net - Capital leases (Table)(Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2016</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_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">$ 9,137<span></span>
</td>
<td class="nump">$ 4,490<span></span>
</td>
</tr>
<tr class="re">
<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">153,596<span></span>
</td>
<td class="nump">$ 75,030<span></span>
</td>
</tr>
<tr class="rh">
<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_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths', window );">June 30, 2017</a></td>
<td class="nump">17,689<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo', window );">June 30, 2018</a></td>
<td class="nump">17,647<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree', window );">June 30, 2019</a></td>
<td class="nump">18,534<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour', window );">June 30, 2020</a></td>
<td class="nump">21,439<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive', window );">June 30, 2021</a></td>
<td class="nump">21,973<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive', window );">June 30, 2022 and thereafter</a></td>
<td class="nump">116,710<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">213,992<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">51,259<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">162,733<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">9,137<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 153,596<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(19))<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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due after the fifth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the fifth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the fourth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the third rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the second rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the next rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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>53
<FILENAME>R43.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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6838879680">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Vessels and other fixed assets, net (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="4">2 Months Ended</th>
<th class="th" colspan="2">3 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="1">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Jan. 08, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jan. 06, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 02, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Feb. 26, 2016 </div>
<div>USD ($)</div>
</th>
<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>Apr. 02, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May 28, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May 27, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2015 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments to acquire property plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 388,660<span></span>
</td>
<td class="nump">$ 317,538<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AmountUsedForPrepaymentOfDebt', window );">Prepayments of lines of credit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">111,407<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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">21<span></span>
</td>
<td class="nump">13,389<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">6,694<span></span>
</td>
<td class="nump">28,829<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">37<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_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>
</tr>
<tr class="ro">
<td class="pl " 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>
</tr>
<tr class="re">
<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">42,011<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<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>
</tr>
<tr class="re">
<td class="pl " 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>
</tr>
<tr class="ro">
<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">$ 23,400<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_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>
</tr>
<tr class="ro">
<td class="pl " 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>
</tr>
<tr class="re">
<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">Jan.  08,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments to acquire property plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 34,942<span></span>
</td>
</tr>
<tr class="rh">
<td class="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 | 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>
</tr>
<tr class="ro">
<td class="pl " 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>
</tr>
<tr class="re">
<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">$ 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_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>
</tr>
<tr class="re">
<td class="pl " 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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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">$ 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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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">$ 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>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HoneyBadgerWolverineMember', window );">Honey Badger and Wolverine | 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>
</tr>
<tr class="re">
<td class="pl " 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>
</tr>
<tr class="ro">
<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">$ 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>
</tr>
<tr class="rh">
<td class="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>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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">$ 37,682<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="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 | DNB-SEB-CEXIM $227,500 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Amount drawn down</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 32,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " 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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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">$ 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>
</tr>
<tr class="rh">
<td class="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 | 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>
</tr>
<tr class="re">
<td class="pl " 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>
</tr>
<tr class="ro">
<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">$ 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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_RobertaMember', window );">Roberta</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " 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>
</tr>
<tr class="ro">
<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 31, 2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_LauraMember', window );">Laura</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " 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>
</tr>
<tr class="re">
<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 7, 2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_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>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " 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>
</tr>
<tr class="ro">
<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>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " 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>
</tr>
<tr class="re">
<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">34<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl 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="nump">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesAcquisitions', window );">Shares to acquire vessels | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">851,577<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 39,475<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarJuliaMember', window );">Star Julia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " 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>
</tr>
<tr class="re">
<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">Feb.  04,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarTatiannaMember', window );">Star Tatianna</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " 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>
</tr>
<tr class="ro">
<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">Feb.  09,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_RodonMember', window );">Rodon</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " 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>
</tr>
<tr class="re">
<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. 12,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMonikaMember', window );">Star Monika</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " 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>
</tr>
<tr class="ro">
<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.  07,  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_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="nump">$ 1,080<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember', window );">Star Julia, Star Tatianna, Star Monika and Star Kim | 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>
</tr>
<tr class="re">
<td class="pl " 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>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AmountUsedForPrepaymentOfDebt', window );">Prepayments of lines of credit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">18,181<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarBigMember', window );">Star Big</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " 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>
</tr>
<tr class="re">
<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">Jun.  04,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarChristiannaMember', window );">Star Christianna</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " 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>
</tr>
<tr class="ro">
<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">Jun. 23,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMegaMember', window );">Star Mega</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " 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>
</tr>
<tr class="re">
<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">Jun. 17,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_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>
</tr>
<tr class="re">
<td class="pl " 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>
</tr>
<tr class="ro">
<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="nump">$ 8,282<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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">90<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 37<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="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 | Impairment charge, Fair value adjustment portion</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " 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>
</tr>
<tr class="re">
<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="nump">$ 4,411<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="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</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " 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>
</tr>
<tr class="ro">
<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 6, 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_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments to acquire property plant and equipment</a></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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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 | 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>
</tr>
<tr class="re">
<td class="pl " 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>
</tr>
<tr class="ro">
<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">$ 14,813<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " 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>
</tr>
<tr class="re">
<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, 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 " 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">$ 21,229<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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 | 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>
</tr>
<tr class="ro">
<td class="pl " 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>
</tr>
<tr class="re">
<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">$ 14,478<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " 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>
</tr>
<tr class="ro">
<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 26, 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_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">$ 33,391<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="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 | DNB-SEB-CEXIM $227,500 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Amount drawn down</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 23,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="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</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " 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>
</tr>
<tr class="re">
<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 2, 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 " 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="nump">$ 18,221<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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 | 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>
</tr>
<tr class="ro">
<td class="pl " 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>
</tr>
<tr class="re">
<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">$ 12,720<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " 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>
</tr>
<tr class="ro">
<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 11, 2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarLibraMember', window );">Star Libra</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " 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>
</tr>
<tr class="re">
<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 6, 2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " 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>
</tr>
<tr class="ro">
<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">$ 5,626<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_IdeeFixeRobertaLauraKaleyStarMarisaStarLibraMember', window );">Idee Fixe, Roberta, Laura, Kaley, Star Marisa and Star Libra</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " 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>
</tr>
<tr class="re">
<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">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 3,016<span></span>
</td>
<td class="nump">$ 872<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">232,835<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 5,984<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_AmountUsedForPrepaymentOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash outflow for prepayment of an obligation from a lender.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AmountUsedForPrepaymentOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_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_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_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=68055307&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=66902209&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_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=66902209&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_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=68055307&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=66902209&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=63488584&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_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=66902209&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=66902209&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_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_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 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 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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_LineOfCreditFacilityAxis=sblk_SinosureFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_SinosureFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_DNB-SEB-CEXIMFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_DNB-SEB-CEXIMFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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_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>
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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>
<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_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>
<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_HoneyBadgerWolverineMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HoneyBadgerWolverineMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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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>
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</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>
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</tr>
<tr>
<td><strong> Data 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>
<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_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>
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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_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>
<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_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>
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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_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>
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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_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>
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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>
<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_StarJuliaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarJuliaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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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_StarTatiannaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarTatiannaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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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_RodonMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_RodonMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMonikaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMonikaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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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_LineOfCreditFacilityAxis=sblk_ExcelVesselCITFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_ExcelVesselCITFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarBigMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarBigMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarChristiannaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarChristiannaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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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_StarMegaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMegaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</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>
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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 border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByMeasurementBasisAxis=sblk_FairValueAdjustmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarLutasMember</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 );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_KennadiMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarPoseidonMember</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>
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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_MackenzieMember</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 );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMarisaMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarLibraMember</td>
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<tr>
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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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<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>
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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_StarMicheleMember</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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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_IdeeFixeRobertaLauraKaleyStarMarisaStarLibraMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>54
<FILENAME>R44.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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6815885344">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Advances for vessels under construction and acquisition of vessels (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2016</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_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">$ 55,892<span></span>
</td>
<td class="nump">$ 127,910<span></span>
</td>
</tr>
<tr class="rh">
<td class="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</a></td>
<td class="nump">26,054<span></span>
</td>
<td class="nump">65,009<span></span>
</td>
</tr>
<tr class="ro">
<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">25,272<span></span>
</td>
<td class="nump">54,428<span></span>
</td>
</tr>
<tr class="re">
<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">3,552<span></span>
</td>
<td class="nump">6,301<span></span>
</td>
</tr>
<tr class="ro">
<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</a></td>
<td class="nump">1,014<span></span>
</td>
<td class="nump">2,172<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_ConstructionInProgressGross', window );">Total</a></td>
<td class="nump">$ 55,892<span></span>
</td>
<td class="nump">$ 127,910<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>
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<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>
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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>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentLineItems</td>
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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>
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<td><strong> Data Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>55
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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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6834623712">
<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="2">6 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Jun. 30, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2015 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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 " 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">$ 6,694<span></span>
</td>
<td class="nump">$ 28,829<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_ReceivableRefundAmount', window );">Receivable refund from the shipyards</a></td>
<td class="nump">$ 5,492<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_TwoNewbuildingContractsMember', window );">Two newbuilding contracts</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_NumberOfNewbuildingContractsTerminated', window );">Number of newbuilding contracts terminated</a></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_AssetImpairmentCharges', window );">Impairment loss</a></td>
<td class="nump">$ 1,068<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_FiveNewbuildingVesselsMember', window );">Five newbuilding vessels</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_NumberOfNewbuildingContracts', window );">Number of contracts for Newbuildings acquired</a></td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">$ 193,395<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">83,492<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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, 2018</a></td>
<td class="nump">109,903<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BalanceSheetLocationAxis=us-gaap_OtherNoncurrentAssetsMember', window );">Other non-current assets</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_ReceivableRefundAmount', window );">Receivable refund from the shipyards</a></td>
<td class="nump">1,604<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BalanceSheetLocationAxis=us-gaap_PrepaidExpensesAndOtherCurrentAssetsMember', window );">Prepaid expenses and other receivables</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_ReceivableRefundAmount', window );">Receivable refund from the shipyards</a></td>
<td class="nump">$ 3,888<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_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>
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<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>
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<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</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>instant</td>
</tr>
</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_ReceivableRefundAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></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 refund that the company is entitled to receive from the shipyards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ 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_ReceivableRefundAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_TotalContractualPurchaseObligation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total amount of the fixed and determinable portion of the unrecorded unconditional purchase obligation to be paid within and after one year from the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_TotalContractualPurchaseObligation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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=68055307&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=66902209&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>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<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>
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<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=73718637&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=73718637&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_PropertyPlantAndEquipmentByTypeAxis=sblk_TwoNewbuildingContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_TwoNewbuildingContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></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_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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BalanceSheetLocationAxis=us-gaap_OtherNoncurrentAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BalanceSheetLocationAxis=us-gaap_OtherNoncurrentAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BalanceSheetLocationAxis=us-gaap_PrepaidExpensesAndOtherCurrentAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BalanceSheetLocationAxis=us-gaap_PrepaidExpensesAndOtherCurrentAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><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>56
<FILENAME>R46.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6810015248">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Advances for vessels under construction and acquisition of vessels (Details)<br></strong></div></th>
<th class="th"><div>Jun. 30, 2016</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_FiveNewbuildingVesselsMember', window );">Five newbuilding vessels</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl 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="nump">5<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_NumberOfNewbuildingContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of newbuildings contracts acquired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_NumberOfNewbuildingContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_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_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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><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>57
<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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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6829246160">
<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="2">6 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Jun. 30, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 11, 2014 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 254<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">254<span></span>
</td>
<td class="nump">$ 7,071<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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="nump">0<span></span>
</td>
<td class="num">(2,114)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">254<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 254<span></span>
</td>
<td class="nump">575<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,713<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarBigStarMarthaStarPaulineStarDespoinaMember', window );">Star Big, Star Martha (ex-Christine), Star Pauline (ex-Sandra) and Star Despoina (ex-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>
</tr>
<tr class="re">
<td class="pl " 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_AmortizationOfAboveAndBelowMarketLeases', window );">Amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,496<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_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_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=66006027&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=66006027&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=66006027&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=66902209&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_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_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_StarBigStarMarthaStarPaulineStarDespoinaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarBigStarMarthaStarPaulineStarDespoinaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6816816720">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Long-term Debt - Principal Payments (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2016</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_LongTermDebtRollingMaturityAbstract', window );"><strong>Long-term Debt - Principal payments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths', window );">June 30, 2017</a></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_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo', window );">June 30, 2018</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree', window );">June 30, 2019</a></td>
<td class="nump">288,122<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour', window );">June 30, 2020</a></td>
<td class="nump">218,939<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive', window );">June 30, 2021</a></td>
<td class="nump">131,636<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive', window );">June 30, 2022 and thereafter</a></td>
<td class="nump">132,892<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_DebtInstrumentCarryingAmount', window );">Total Long term debt</a></td>
<td class="nump">771,589<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsNet', window );">Unamortized Deferred financing fees</a></td>
<td class="nump">9,992<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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 Long term debt, net</a></td>
<td class="nump">761,597<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">$ 127,141<span></span>
</td>
</tr>
<tr class="ro">
<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, net</a></td>
<td class="nump">$ 761,597<span></span>
</td>
<td class="nump">$ 720,237<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_DebtInstrumentCarryingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types 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 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 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 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(16))<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_DebtInstrumentCarryingAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<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_DeferredFinanceCostsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration 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 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=64930785&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>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying 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(19))<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>
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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, after unamortized (discount) premium and debt issuance costs, of long-term debt. 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 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16))<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 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 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_LongTermDebt</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>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the next rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<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_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing after the fifth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive</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>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fifth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fourth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the third rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree</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>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the second rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo</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_LongTermDebtRollingMaturityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtRollingMaturityAbstract</td>
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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 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 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 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(a)(16)(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6810313744">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-term Debt - Interest and finance costs (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2016</div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtByCurrentAndNoncurrentAbstract', window );"><strong>Long-term Debt [Abstract]</strong></a></td>
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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_InterestExpense', window );">Interest on long term debt and capital leases</a></td>
<td class="nump">$ 19,651<span></span>
</td>
<td class="nump">$ 16,991<span></span>
</td>
</tr>
<tr class="re">
<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">(2,578)<span></span>
</td>
<td class="num">(6,221)<span></span>
</td>
</tr>
<tr class="ro">
<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 (Note 14)</a></td>
<td class="nump">667<span></span>
</td>
<td class="nump">1,491<span></span>
</td>
</tr>
<tr class="re">
<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">1,561<span></span>
</td>
<td class="nump">1,199<span></span>
</td>
</tr>
<tr class="ro">
<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">393<span></span>
</td>
<td class="nump">411<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">$ 19,694<span></span>
</td>
<td class="nump">$ 13,871<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 amortization expense attributable to 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 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=64930785&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 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=66902209&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 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=63488584&amp;loc=d3e20235-122688<br><br>Reference 4: 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_AmortizationOfFinancingCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestAndDebtExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest and debt related expenses associated with nonoperating financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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_InterestCostsCapitalized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of interest capitalized during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>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_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 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=64930785&amp;loc=d3e28555-108399<br><br>Reference 3: 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>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_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=64837297&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>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</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_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=63488584&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>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6829018448">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-term Debt (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Jun. 30, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2016 </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 ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 140,555<span></span>
</td>
<td class="nump">$ 285,203<span></span>
</td>
<td class="text">&#160;<span></span>
</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</a></td>
<td class="nump">5,122<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,769<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">127,141<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AmountUsedForPrepaymentOfDebt', window );">Prepayments of lines of credit</a></td>
<td class="nump">$ 111,407<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">3.90%<span></span>
</td>
<td class="nump">3.30%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet', window );">Deferred finance charges, net</a></td>
<td class="nump">$ 11,453<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,037<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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 unamortized deferred financing fees</a></td>
<td class="nump">$ 1,801<span></span>
</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>
<tr class="rh">
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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">23,400<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>
</tr>
<tr class="rh">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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">42,011<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementScenarioAxis=us-gaap_CashAndCashEquivalentsMember', window );">Not legally restricted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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">48,643<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">150,000<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_StatementScenarioAxis=us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember', window );">Legally restricted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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">13,907<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,997<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,268<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<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</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SaleOfStockConsiderationReceivedOnTransaction', window );">Public offering</a></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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<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_MediumTermNotesMember', 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet', window );">Deferred finance charges, net</a></td>
<td class="nump">$ 1,461<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,677<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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">64<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 1,569,264<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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">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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 232,835<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_AmountUsedForPrepaymentOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash outflow for prepayment of an obligation from a lender.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AmountUsedForPrepaymentOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_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=66902209&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_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 unamortized debt discount (premium) 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 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=64930785&amp;loc=d3e28555-108399<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_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>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_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(19))<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_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_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=66902209&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_SaleOfStockConsiderationReceivedOnTransaction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 on stock transaction after deduction of issuance 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_SaleOfStockConsiderationReceivedOnTransaction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>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_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=63488584&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_LineOfCreditFacilityAxis=sblk_DNB-SEB-CEXIMFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_DNB-SEB-CEXIMFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_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_StatementScenarioAxis=us-gaap_CashAndCashEquivalentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementScenarioAxis=us-gaap_CashAndCashEquivalentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></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=us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementScenarioAxis=us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember</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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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></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_StatementScenarioAxis=sblk_ReclassificationAdjustmentDueToSCRShortfallMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( 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_ReclassificationAdjustmentDueToSCRShortfallMember</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>
<td><strong> Balance Type:</strong></td>
<td></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_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>
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<td><strong> Balance Type:</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_LongtermDebtTypeAxis=us-gaap_MediumTermNotesMember</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>
</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_CollateralAxis=sblk_FirstPriorityMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CollateralAxis=sblk_FirstPriorityMortgageMember</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></td>
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<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_CollateralAxis=sblk_CrossCollateralBareboatVesselsMember</td>
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<DOCUMENT>
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<html>
<head>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6829232928">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-term Debt - Terms and Covenants (Details)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 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_LineOfCreditFacilityLineItems', window );"><strong>Line of Credit Facility [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityCovenantTerms', window );">Line of Credit Facility, Covenant Terms</a></td>
<td class="text">In addition, the Company's credit facilities contain financial covenants and undertakings requiring the Company to maintain various financial ratios, including:
- a minimum ratio of aggregate vessel value to loans secured ("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, 2015 and June 30, 2016 the Company was required to maintain minimum liquidity, not legally restricted, of $150,000 and $48,643, respectively, which is included within "Cash and cash equivalents" in the accompanying consolidated balance sheets. In addition, as of December 31, 2015 and June 30, 2016 the Company was required to maintain minimum liquidity, legally restricted, of $13,997 and $13,907, respectively, which is included within "Restricted cash" in the accompanying consolidated balance sheets.
<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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. An 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. As such, as of December 31, 2015, $14,268 (which was the amount that could be made repayable under the SCR provisions by the lenders (or "SCR Shortfall Amount")) was reclassified as current portion of long-term debt within current liabilities. Apart from this, as of December 31, 2015, the Company was in compliance with the applicable financial and other covenants contained in its debt agreements, including the 2019 Notes.<span></span>
</td>
</tr>
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<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>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 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 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>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCovenantCompliance</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>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>
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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">
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<DOCUMENT>
<TYPE>XML
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<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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6829241232">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Preferred and Common Shares and Additional Paid in Capital - Equity (Details)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">4 Months Ended</th>
<th class="th" colspan="1">5 Months Ended</th>
<th class="th" colspan="3">6 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Jan. 14, 2015 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Apr. 30, 2016 </div>
<div>shares</div>
</th>
<th class="th">
<div>May 18, 2015 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Jun. 30, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 20, 2016 </div>
<div>shares</div>
</th>
<th class="th">
<div>Jun. 30, 2015 </div>
<div>USD ($) </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_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Common shares offered in public offering</a></td>
<td class="nump">9,800,084<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,250,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssuedPricePerShare', window );">Public offering, price per share | $ / shares</a></td>
<td class="nump">$ 25<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 " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfCommonStock', window );">Proceeds from issuance of common stock | $</a></td>
<td class="nump">$ 242,211<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 175,586<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 418,771<span></span>
</td>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesAcquisitions', window );">Shares to acquire 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">851,577<span></span>
</td>
</tr>
<tr class="ro">
<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 );">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="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_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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Stock issued during period, share based compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">134,545<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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_ConversionOfStockByUniqueDescriptionAxis=sblk_ReverseStockSplitMember', window );">Reverse stock split</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityReverseStockSplit', window );">Description of the reverse stock split</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Effective June 20, 2016, the Company effected a 5-for-1 reverse stock split on its issued and outstanding common stock (Note 9).<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteStockSplitConversionRatio1', window );">Reverse stock split, 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">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_ConversionOfStockSharesConverted1', window );">Shares converted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">219,788,952<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockSharesIssued1', window );">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="nump">43,955,659<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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>
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<td>xbrli:integerItemType</td>
</tr>
<tr>
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<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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>
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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 number of shares converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments 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 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 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<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 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<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_ConversionOfStockSharesConverted1</td>
</tr>
<tr>
<td style="padding-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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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></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 new shares issued in the conversion of stock in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments 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 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 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 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<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_ConversionOfStockSharesIssued1</td>
</tr>
<tr>
<td style="padding-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_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=66902209&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_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 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 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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesAcquisitions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of new stock issued during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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 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 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(28))<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 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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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 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 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 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 4: 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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_StockholdersEquityNoteStockSplitConversionRatio1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 stock split, for example but not limited to, one share converted to two or two shares converted to one.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityNoteStockSplitConversionRatio1</td>
</tr>
<tr>
<td style="padding-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_StockholdersEquityReverseStockSplit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 reverse stock split arrangement. Also provide the retroactive effect given by the reverse split that occurs after the balance sheet 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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityReverseStockSplit</td>
</tr>
<tr>
<td style="padding-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_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_PlanNameAxis=sblk_EquityIncentivePlan2015Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=sblk_EquityIncentivePlan2015Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<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_ConversionOfStockByUniqueDescriptionAxis=sblk_ReverseStockSplitMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConversionOfStockByUniqueDescriptionAxis=sblk_ReverseStockSplitMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</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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</DOCUMENT>
<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">
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6810146048">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Management fees (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2016</div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfessionalAndContractServicesExpense', window );">Management fees</a></td>
<td class="nump">$ 3,911,000<span></span>
</td>
<td class="nump">$ 4,063,000<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_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ShipProcurementServicesS.A.Member', window );">Ship Procurement Services S.A. ("SPS")</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_ProcurementServicesDailyFee', window );">Procurement services daily fee</a></td>
<td class="nump">295<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfessionalAndContractServicesExpense', window );">Management fees</a></td>
<td class="nump">3,911,000<span></span>
</td>
<td class="nump">3,748,000<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_RelatedPartyTransactionsByRelatedPartyAxis=sblk_MaryvilleMaritimeIncMember', window );">Maryville Maritime Inc.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfessionalAndContractServicesExpense', window );">Management fees</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 315,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_ProcurementServicesDailyFee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The daily fee per vessel for procurement services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_ProcurementServicesDailyFee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfessionalAndContractServicesExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Professional and contract service expense includes cost reimbursements for support services related to contracted projects, outsourced management, technical and staff support.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfessionalAndContractServicesExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<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>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</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>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>64
<FILENAME>R54.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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6816932928">
<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="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2016</div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAbstract', window );"><strong>Income / (Loss) :</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income / (loss)</a></td>
<td class="num">$ (81,696)<span></span>
</td>
<td class="num">$ (105,197)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAbstract', window );"><strong>Basic earnings / (loss) per share:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Weighted average common shares outstanding, basic</a></td>
<td class="nump">43,880,713<span></span>
</td>
<td class="nump">34,347,332<span></span>
</td>
</tr>
<tr class="re">
<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">$ (1.86)<span></span>
</td>
<td class="num">$ (3.06)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDilutedAbstract', window );"><strong>Effect of dilutive securities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment', window );">Dilutive effect of non vested shares</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Weighted average common shares outstanding, diluted</a></td>
<td class="nump">43,880,713<span></span>
</td>
<td class="nump">34,347,332<span></span>
</td>
</tr>
<tr class="re">
<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">$ (1.86)<span></span>
</td>
<td class="num">$ (3.06)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicOtherDisclosuresAbstract', window );"><strong>Earnings / (loss) per share</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Number of anti-dilutive shares</a></td>
<td class="nump">690,000<span></span>
</td>
<td class="nump">135,230<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicOtherDisclosuresAbstract', window );"><strong>Earnings / (loss) per share</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Number of anti-dilutive shares</a></td>
<td class="nump">104,250<span></span>
</td>
<td class="nump">104,250<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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>
</tr>
<tr>
<td style="padding-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>
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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_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 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=65016374&amp;loc=d3e4984-109258<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 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=64863997&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 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=63488584&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 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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasicAbstract</td>
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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>xbrli:stringItemType</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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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicOtherDisclosuresAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasicOtherDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<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_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 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 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=64863997&amp;loc=d3e1252-109256<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(21))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br><br>Reference 4: 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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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=66902209&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 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 4: 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(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<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(18))<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> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 7: 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(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&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_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>
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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_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>
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</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>
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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_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=64863997&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=64863997&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>
</table>
<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>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<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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<DOCUMENT>
<TYPE>XML
<SEQUENCE>65
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6829359456">
<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">6 Months Ended</th>
</tr>
<tr><th class="th">
<div>Jun. 30, 2016 </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>Number of options</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, 2016 | shares</a></td>
<td class="nump">104,250<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Granted | shares</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_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares', window );">Vested | 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_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares', window );">Outstanding as of June 30, 2016 | shares</a></td>
<td class="nump">104,250<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward', window );"><strong>Weighted average exercise price</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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Outstanding at January 1, 2016</a></td>
<td class="nump">$ 27.5<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_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Granted</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_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice', window );">Vested</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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Outstanding as of June 30, 2016</a></td>
<td class="nump">27.5<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, 2016</a></td>
<td class="nump">7.0605<span></span>
</td>
</tr>
<tr class="re">
<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">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_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue', window );">Vested</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_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Outstanding as of June 30, 2016</a></td>
<td class="nump">$ 7.0605<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_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 option holders acquired shares when converting their stock options into shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="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_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>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 options vested.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares</td>
</tr>
<tr>
<td style="padding-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_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 options vested.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="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>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>66
<FILENAME>R56.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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6817732544">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity Incentive Plans (Table) (Details) - $ / shares<br></strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2016</div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward', window );"><strong>Number of shares</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Unvested at beginning of period</a></td>
<td class="nump">135,230<span></span>
</td>
<td class="nump">78,833<span></span>
</td>
</tr>
<tr class="re">
<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">690,000<span></span>
</td>
<td class="nump">135,230<span></span>
</td>
</tr>
<tr class="ro">
<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 );">Cancelled</a></td>
<td class="num">(3,185)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">(132,045)<span></span>
</td>
<td class="num">(78,833)<span></span>
</td>
</tr>
<tr class="ro">
<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">690,000<span></span>
</td>
<td class="nump">135,230<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward', window );"><strong>Weighted Average Grant Date Fair Value</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 17.75<span></span>
</td>
<td class="nump">$ 54.3<span></span>
</td>
</tr>
<tr class="re">
<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">3.75<span></span>
</td>
<td class="nump">17.75<span></span>
</td>
</tr>
<tr class="ro">
<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 );">Cancelled</a></td>
<td class="nump">17.75<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">17.75<span></span>
</td>
<td class="nump">54.3<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 3.75<span></span>
</td>
<td class="nump">$ 17.75<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>
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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_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>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6829247072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity Incentive Plans - Company's Equity Incentive Plans (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">4 Months Ended</th>
<th class="th" colspan="3">6 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>May 09, 2016 </div>
<div>shares</div>
</th>
<th class="th">
<div>Jun. 30, 2016 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th"><div>Jun. 20, 2016</div></th>
<th class="th">
<div>Jun. 30, 2015 </div>
<div>USD ($) </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>
</tr>
<tr class="ro">
<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">690,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">135,230<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_ShareBasedCompensation', window );">Share based compensation | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,285<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,407<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions', window );">Total unrecognised compensation cost relating to restricted share awards | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions', window );">Total unrecognised compensation cost relating to non-vested share option | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 557<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">3 months 17 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">3 years 9 months 13 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_EquityIncentivePlan2016Member', window );">Equity Incentive Plan 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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">940,000<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Number of shares granted</a></td>
<td class="nump">690,000<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_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheOneMember', window );">Vest within the third quarter of 2016 | Equity Incentive Plan 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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">650,000<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_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheTwoMember', window );">Vest on March 1, 2018 | Equity Incentive Plan 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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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">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>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockByUniqueDescriptionAxis=sblk_ReverseStockSplitMember', window );">Reverse stock split</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteStockSplitConversionRatio1', window );">Reverse stock split, Conversion ratio</a></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>
</table>
<div style="display: none;">
<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=66902209&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_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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</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_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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>
</tr>
<tr>
<td style="padding-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_StockholdersEquityNoteStockSplitConversionRatio1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 stock split, for example but not limited to, one share converted to two or two shares converted to one.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityNoteStockSplitConversionRatio1</td>
</tr>
<tr>
<td style="padding-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_PlanNameAxis=sblk_EquityIncentivePlan2016Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( 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_EquityIncentivePlan2016Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<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>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<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_ConversionOfStockByUniqueDescriptionAxis=sblk_ReverseStockSplitMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConversionOfStockByUniqueDescriptionAxis=sblk_ReverseStockSplitMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6817858768">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Commitments and Contingencies - Contractual Obligations (Table) (Details)<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Jun. 30, 2016 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCommitmentsLineItems', window );"><strong>Lease commitments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent', window );">2017</a></td>
<td class="nump">$ 7,457<span></span>
</td>
</tr>
<tr class="re">
<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 );">2018</a></td>
<td class="num">(11,364)<span></span>
</td>
</tr>
<tr class="ro">
<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 );">2019</a></td>
<td class="num">(12,512)<span></span>
</td>
</tr>
<tr class="re">
<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 );">2020</a></td>
<td class="num">(12,450)<span></span>
</td>
</tr>
<tr class="ro">
<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 );">2021</a></td>
<td class="num">(12,699)<span></span>
</td>
</tr>
<tr class="re">
<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 );">2022 and thereafter</a></td>
<td class="num">(112,789)<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">(154,357)<span></span>
</td>
</tr>
<tr class="rh">
<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 );">2017</a></td>
<td class="nump">21,372<span></span>
</td>
</tr>
<tr class="ro">
<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 );">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_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears', 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_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears', 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_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears', window );">2021</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 );">2022 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">21,372<span></span>
</td>
</tr>
<tr class="rh">
<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 (2)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCommitmentsLineItems', window );"><strong>Lease commitments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent', window );">2017</a></td>
<td class="num">(3,595)<span></span>
</td>
</tr>
<tr class="re">
<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 );">2018</a></td>
<td class="num">(561)<span></span>
</td>
</tr>
<tr class="ro">
<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 );">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_OperatingLeasesFutureMinimumPaymentsDueInFourYears', 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_OperatingLeasesFutureMinimumPaymentsDueInFiveYears', window );">2021</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 );">2022 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">(4,156)<span></span>
</td>
</tr>
<tr class="rh">
<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="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCommitmentsLineItems', window );"><strong>Lease commitments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths', window );">2017</a></td>
<td class="num">(6,472)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo', window );">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_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree', 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_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour', 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_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive', window );">2021</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_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive', window );">2022 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_CapitalLeasesFutureMinimumPaymentsDue', window );">Total</a></td>
<td class="num">(6,808)<span></span>
</td>
</tr>
<tr class="rh">
<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="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCommitmentsLineItems', window );"><strong>Lease commitments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths', window );">2017</a></td>
<td class="num">(3,848)<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_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo', window );">2018</a></td>
<td class="num">(10,467)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree', window );">2019</a></td>
<td class="num">(12,512)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour', window );">2020</a></td>
<td class="num">(12,450)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive', window );">2021</a></td>
<td class="num">(12,699)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive', window );">2022 and thereafter</a></td>
<td class="num">(112,789)<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">$ (164,765)<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_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due after the fifth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the fifth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the fourth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the third rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the second rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the next rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractualObligation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of contractual obligation, including but not limited to, long-term debt, capital lease obligations, operating lease obligations, purchase obligations, and other commitments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractualObligation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractualObligationDueAfterFifthYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of contractual obligation 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>
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<td>xbrli:stringItemType</td>
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<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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>
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<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>
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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>
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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_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>
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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_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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<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6838977552">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th">
<div>Jun. 30, 2016 </div>
<div>USD ($)</div>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureAbstract', window );"><strong>Commitments and Contingencies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MalpracticeInsuranceMaximumCoveragePerIncident', window );">Coverage for pollution</a></td>
<td class="nump">$ 1,000,000<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_CapitalLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis', window );">Variable portion of payment to SWS owner</a></td>
<td class="text">6-month LIBOR rate of 0.92415%<span></span>
</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis">
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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 reference rate for the variable rate of the lessee's capital lease, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis</td>
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<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_CommitmentsAndContingenciesDisclosureAbstract</td>
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<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_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>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6816091888">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contigencies 2 (Details) - Spanish port authorities environmental fines - Star Cosmo<br></strong></div></th>
<th class="th" colspan="3">3 Months Ended</th>
<th class="th" colspan="2">8 Months Ended</th>
<th class="th" colspan="2"></th>
<th class="th" colspan="2"></th>
</tr>
<tr>
<th class="th">
<div>Mar. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2015 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Mar. 31, 2012 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Aug. 31, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Aug. 31, 2016 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Jun. 30, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2016 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Jul. 31, 2011 </div>
<div>USD ($)</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>
</tr>
<tr class="ro">
<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="nump">$ 377,000<span></span>
</td>
<td class="nump">&#8364; 340,000<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_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">1.11<span></span>
</td>
<td class="nump">1.11<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_CashCollateralForPollutionRelease', window );">Cash collateral for pollution release</a></td>
<td class="text">&#160;<span></span>
</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>
</tr>
<tr class="re">
<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 );">Litigation Settlement, Amount</a></td>
<td class="nump">$ 67,000<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>
<td class="text">&#160;<span></span>
</td>
<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 );">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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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 );">Litigation Settlement, 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">$ 222,000<span></span>
</td>
<td class="nump">&#8364; 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>
</tr>
<tr class="rh">
<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</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingencyEstimateOfPossibleLoss', window );">Loss contigency, Estimate of possible loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 289,000<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>
</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>
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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>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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>
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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: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_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>
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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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<tr>
<td><strong> Data Type:</strong></td>
<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_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_LossContingencyEstimateOfPossibleLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 estimated amount of loss from the specified contingency 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 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_LossContingencyEstimateOfPossibleLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>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_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">
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6829364016">
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<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="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2016</div></th>
<th class="th"><div>Jun. 30, 2015</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_DerivativeLineItems', window );"><strong>Derivative [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " 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">$ (42)<span></span>
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<td class="num">$ (227)<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_GainLossOnDerivativeInstrumentsNetPretax', window );">Total Gain/(Loss) on derivative instruments, net</a></td>
<td class="num">(4,681)<span></span>
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<td class="num">(688)<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_InterestAndDebtExpenseAbstract', window );"><strong>Interest and finance costs</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet', window );">Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other comprehensive income/(loss) (Note 8)</a></td>
<td class="num">(667)<span></span>
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<td class="num">(1,491)<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_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings', window );">Total Gain/(Loss) recognized</a></td>
<td class="num">(667)<span></span>
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<td class="num">(1,491)<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_DerivativeInstrumentRiskAxis=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>
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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_DerivativeLineItems', window );"><strong>Derivative [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments', window );">Unrealized gain/(loss) from the Interest rate swaps agreements</a></td>
<td class="num">(1,930)<span></span>
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<td class="nump">883<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_InterestRateDerivativeGainLossRealizedInEarningsNet', window );">Realized gain/(loss) from the Interest rate swaps agreements</a></td>
<td class="num">$ (2,709)<span></span>
</td>
<td class="num">$ (1,344)<span></span>
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<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>
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<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">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<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=64837297&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>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The 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>
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<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=64837297&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=64837297&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>
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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_InterestAndDebtExpenseAbstract</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 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=64837297&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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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentRiskAxis=sblk_GoldmanSachsSwapsMember</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6810613536">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Fair value measurements - Fair value on a recurring basis - Significant Other Observable Inputs (Table) (Details) - Significant Other Observable Inputs (Level 2) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2016</div></th>
<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_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Not designated as cash flow hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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</a></td>
<td class="nump">9,155<span></span>
</td>
<td class="nump">7,642<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">9,155<span></span>
</td>
<td class="nump">7,642<span></span>
</td>
</tr>
<tr class="rh">
<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="re">
<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</a></td>
<td class="nump">1,362<span></span>
</td>
<td class="nump">807<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">$ 1,362<span></span>
</td>
<td class="nump">$ 807<span></span>
</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>
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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=73719730&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=73719730&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_DerivativeAssetsNoncurrent</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<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=73719730&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=73719730&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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<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>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=73719730&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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<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>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=73719730&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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<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 class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member</td>
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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 class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember</td>
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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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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>73
<FILENAME>R63.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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6815806992">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair value measurements - Additional Information (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">6 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>Jun. 30, 2016</div></th>
<th class="th"><div>Oct. 01, 2015</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></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>
</tr>
<tr class="ro">
<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="nump">$ 814<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr 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>
<td class="text">&#160;<span></span>
</td>
<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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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="nump">2<span></span>
</td>
</tr>
<tr class="rh">
<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 $70,000 facility | Tranche A</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeMaturityDates', window );">Maturity date</a></td>
<td class="text">Aug.  09,  2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeAssetNotionalAmount', window );">Derivative asset, Notional amount</a></td>
<td class="nump">$ 23,927<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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="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_LineOfCreditFacilityAxis=sblk_CreditAgricoleCorporateAndInvestmentBankMember', window );">Credit Agricole Corporate and Investment Bank $70,000 facility | Tranche B</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeMaturityDates', window );">Maturity date</a></td>
<td class="text">Nov.  09,  2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeAssetNotionalAmount', window );">Derivative asset, Notional amount</a></td>
<td class="nump">$ 25,131<span></span>
</td>
<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="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_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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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="nump">50.00%<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_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>
</tr>
<tr class="ro">
<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">$ 14,781<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeFixedInterestRate', window );">Fixed rate, per annum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.765%<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_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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfInterestRateDerivativesHeld', window );">Number of interest rate derivatives held by the Company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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">$ 431,750<span></span>
</td>
<td class="nump">$ 461,264<span></span>
</td>
<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 | 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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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="nump">1.79%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<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 | 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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="nump">2.07%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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">$ 33,000<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_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>
</tr>
<tr class="re">
<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>
</tr>
<tr 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>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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=64837297&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=64837297&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_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_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_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=64837297&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=64837297&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_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_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_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>
</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>
<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>
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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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<DOCUMENT>
<TYPE>XML
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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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6809387072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsequent Events (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
<th class="th" colspan="1">8 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2016</div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Sep. 12, 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>
</tr>
<tr class="ro">
<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, value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 417,797<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">690,000<span></span>
</td>
<td class="nump">135,230<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<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</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_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>
</tr>
<tr class="ro">
<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="nump">345,000<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_VestingAxis=sblk_ShareBasedCompensationAwardTrancheOne2017Member', window );">Vest on March 31, 2017 | 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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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="nump">305,000<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_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheTwoMember', window );">Vest on March 1, 2018 | 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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="nump">40,000<span></span>
</td>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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>
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<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 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 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 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 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_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>
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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>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>
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<td>na</td>
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<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- 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_VestingAxis=sblk_ShareBasedCompensationAwardTrancheOne2017Member</td>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
