<SEC-DOCUMENT>0000950142-16-003133.txt : 20160216
<SEC-HEADER>0000950142-16-003133.hdr.sgml : 20160215
<ACCEPTANCE-DATETIME>20160216163202
ACCESSION NUMBER:		0000950142-16-003133
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20160216
DATE AS OF CHANGE:		20160216
GROUP MEMBERS:		EXCEL MARITIME CARRIERS LLC
GROUP MEMBERS:		EXCEL MARITIME HOLDING CO LLC

SUBJECT COMPANY:	

	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:		SC 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-83429
		FILM NUMBER:		161429154

	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

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EXCEL MARITIME CARRIERS LLC
		CENTRAL INDEX KEY:			0000842294
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				980099475
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		14 PAR LA VILLE RD
		STREET 2:		3RD FL PARLAVILLE RD
		CITY:			HAMILTON HM 08 BERMU
		STATE:			D0
		ZIP:			00000
		BUSINESS PHONE:		8092956875

	MAIL ADDRESS:	
		STREET 1:		PAR LA VILLE PLACE 14 PAR LA VILLE PLACE
		CITY:			HAMILTON HM JX
		STATE:			D0
		ZIP:			00000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EXCEL MARITIME CARRIERS LTD
		DATE OF NAME CHANGE:	19980520

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	B&H MARITIME CARRIERS LTD
		DATE OF NAME CHANGE:	19930617
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>eh1600296_13ga2-excel.htm
<DESCRIPTION>AMENDMENT NO. 2
<TEXT>
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<title>Submission Proof - I:\Edgar\Excel Maritime Holding Co LLC\Current Projects\eh1600296_13ga2-excel\eh1600296_13ga2-excel.gfp</title>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">UNITED STATES</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Washington, D.C. 20549</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">SCHEDULE 13G</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">PURSUANT TO 13d-2(b)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">(Amendment No.&#160;2)*</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Name of Issuer)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center"><u>Common Stock, par value $0.01</u></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Title of Class of Securities)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center"><u>Y8162K121</u></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(CUSIP Number)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center"><u>December 31, 2015</u></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Date of Event which Requires Filing of this Statement)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Check the appropriate box to designate the rule pursuant to which this Schedule is filed:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#9744;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Rule 13d-1(b)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#9746;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Rule 13d-1(c)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#9744;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Rule 13d-1(d)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">*</font>The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">The information required on the remainder of this cover page shall not be deemed to be &#8220;filed&#8221; for the purpose of Section 18 of the Securities Exchange Act of 1934 (&#8220;Act&#8221;) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).</div>

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

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">CUSIP No. Y8162K121</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">1</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">NAME OF <font style="FONT-SIZE: 10pt">REPORTING</font> PERSON OR</div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">I.R.S. IDENTIFICATION NO. OF ABOVE PERSON</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Excel Maritime Carriers LLC</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">2</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(a)&#160;&#160;<font style="FONT-FAMILY: Wingdings; DISPLAY: inline">o</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(b)&#160; &#9746;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">3</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">SEC USE ONLY</div>

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<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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<td style="FONT-SIZE: 8pt; FONT-FAMILY: arial; BORDER-RIGHT: #000000 2px solid; WIDTH: 10%; BORDER-BOTTOM: black 2px solid" valign="top">&#160; </td>
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<tr>
<td style="WIDTH: 10%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">4</div>
</td>
<td style="WIDTH: 80%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: black 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">CITIZENSHIP OR PLACE OF ORGANIZATION</div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Liberia</div>
</td>
<td style="FONT-SIZE: 8pt; FONT-FAMILY: arial; BORDER-RIGHT: #000000 2px solid; WIDTH: 10%" valign="top">&#160; </td>
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</table>
</div>

<div style="TEXT-ALIGN: left; DISPLAY: block; TEXT-INDENT: 0pt">
<table id="a28a1f50bb54403fae4e41c8045a0963" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 100%" cellspacing="0" cellpadding="2">
<tr>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 18%; PADDING-BOTTOM: 2px; TEXT-ALIGN: center; BORDER-LEFT: #000000 2px solid" valign="middle" rowspan="4">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: center; DISPLAY: block; TEXT-INDENT: 0pt">NUMBER OF</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">SHARES</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">BENEFICIALLY OWNED </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">BY EACH REPORTING</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">PERSON</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">WITH</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 4%; BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid" valign="top" align="left">
<div>5</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 78%; BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid" valign="top" align="left">
<div style="FONT-SIZE: 10pt">SOLE VOTING POWER</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">0</div>
</td>
</tr>

<tr>
<td style="WIDTH: 4%; BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid" valign="top" align="left">
<div>6</div>
</td>
<td style="BORDER-RIGHT: #000000 2px solid; WIDTH: 78%; BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid" valign="top" align="left">
<div>SHARED VOTING POWER</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; DISPLAY: block; TEXT-INDENT: 0pt">1,245,194</div>
</td>
</tr>

<tr>
<td style="WIDTH: 4%; BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid" valign="top" align="left">
<div>7</div>
</td>
<td style="BORDER-RIGHT: #000000 2px solid; WIDTH: 78%; BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid" valign="top" align="left">
<div>SOLE DISPOSITIVE POWER</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; DISPLAY: block; TEXT-INDENT: 0pt">0</div>
</td>
</tr>

<tr>
<td style="WIDTH: 4%; BORDER-LEFT: black 2px solid" valign="top" align="left">
<div>8</div>
</td>
<td style="BORDER-RIGHT: #000000 2px solid; WIDTH: 78%; BORDER-LEFT: black 2px solid" valign="top" align="left">
<div>SHARED DISPOSITIVE POWER</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; DISPLAY: block; TEXT-INDENT: 0pt">1,245,194</div>
</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">
<table id="ebc1ccbbdc144ecaa87171027b5110fa" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 100%" cellspacing="0" cellpadding="2">
<tr>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 10%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">9</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 80%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: black 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div>AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>

<div>&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; DISPLAY: block; TEXT-INDENT: 0pt">1,245,194</div>
</td>
<td style="FONT-SIZE: 8pt; BORDER-TOP: #000000 2px solid; FONT-FAMILY: arial; BORDER-RIGHT: #000000 2px solid; WIDTH: 10%; BORDER-BOTTOM: black 2px solid" valign="top">&#160; </td>
</tr>

<tr>
<td style="WIDTH: 10%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">10</div>
</td>
<td style="WIDTH: 80%; BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid" valign="top" align="left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 45pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -45pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES</div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 45pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -45pt">&#160;</div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: wingdings; BORDER-RIGHT: #000000 2px solid; WIDTH: 10%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">o</td>
</tr>

<tr>
<td style="WIDTH: 10%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">11</div>
</td>
<td style="WIDTH: 80%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: black 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div>PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</div>

<div>&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; DISPLAY: block; TEXT-INDENT: 0pt">0.6% (1)</div>
</td>
<td style="FONT-SIZE: 8pt; FONT-FAMILY: arial; BORDER-RIGHT: #000000 2px solid; WIDTH: 10%; BORDER-BOTTOM: black 2px solid" valign="top">&#160; </td>
</tr>

<tr>
<td style="WIDTH: 10%; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">12</div>
</td>
<td style="WIDTH: 80%; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: black 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">TYPE OF REPORTING PERSON</div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">OO</div>
</td>
<td style="FONT-SIZE: 8pt; FONT-FAMILY: arial; BORDER-RIGHT: #000000 2px solid; WIDTH: 10%; BORDER-BOTTOM: #000000 2px solid" valign="top">&#160; </td>
</tr>
</table>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br />
</div>
</div>

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

<div style="TEXT-ALIGN: justify">
<table id="cebfcab279cd44f89b4ec647d007c10a" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
<div>Based on 219,105,712 as of November 25, 2015.</div>
</td>
</tr>
</table>
</div>

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

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

<div style="MARGIN-LEFT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>

<div>
<div style="TEXT-ALIGN: left">
<table id="80c3e4eb8875486b8e271149e0fdba3c" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 100%" cellspacing="0" cellpadding="2">
<tr>
<td style="BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid; WIDTH: 20%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: black 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">CUSIP No. Y8162K121</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 60%; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="bottom">SCHEDULE 13G</td>
<td style="BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid; WIDTH: 20%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right; BORDER-LEFT: black 2px solid" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: right; MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Page&#160;3 of&#160;7</div>
</td>
</tr>
</table>
</div>

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

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

<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<div style="TEXT-ALIGN: left">
<table id="f7b3d4e97a94422db1e30f72669ec293" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 100%" cellspacing="0" cellpadding="2">
<tr>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 10%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">1</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 80%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: black 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">NAME OF <font style="FONT-SIZE: 10pt">REPORTING</font> PERSON OR</div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">I.R.S. IDENTIFICATION NO. OF ABOVE PERSON</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Excel Maritime Holding Company LLC</div>
</td>
<td style="FONT-SIZE: 8pt; BORDER-TOP: #000000 2px solid; FONT-FAMILY: arial; BORDER-RIGHT: #000000 2px solid; WIDTH: 10%; BORDER-BOTTOM: black 2px solid" valign="top">&#160; </td>
</tr>

<tr>
<td style="WIDTH: 10%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">2</div>
</td>
<td style="WIDTH: 80%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: black 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
</td>
<td style="BORDER-RIGHT: #000000 2px solid; WIDTH: 10%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(a)&#160;&#160;<font style="FONT-FAMILY: Wingdings; DISPLAY: inline">o</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(b)&#160; &#9746;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">3</div>
</td>
<td style="WIDTH: 80%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: black 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">SEC USE ONLY</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
</td>
<td style="FONT-SIZE: 8pt; FONT-FAMILY: arial; BORDER-RIGHT: #000000 2px solid; WIDTH: 10%; BORDER-BOTTOM: black 2px solid" valign="top">&#160; </td>
</tr>

<tr>
<td style="WIDTH: 10%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">4</div>
</td>
<td style="WIDTH: 80%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: black 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">CITIZENSHIP OR PLACE OF ORGANIZATION</div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Marshall Islands</div>
</td>
<td style="FONT-SIZE: 8pt; FONT-FAMILY: arial; BORDER-RIGHT: #000000 2px solid; WIDTH: 10%" valign="top">&#160; </td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left; DISPLAY: block; TEXT-INDENT: 0pt">
<table id="e4d68d4c5dfd4b6db4968a2510aa6031" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 100%" cellspacing="0" cellpadding="2">
<tr>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 18%; PADDING-BOTTOM: 2px; TEXT-ALIGN: center; BORDER-LEFT: #000000 2px solid" valign="middle" rowspan="4">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: center; DISPLAY: block; TEXT-INDENT: 0pt">NUMBER OF</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">SHARES</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">BENEFICIALLY OWNED </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">BY EACH REPORTING</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">PERSON</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">WITH</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 4%; BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid" valign="top" align="left">
<div>5</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 78%; BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid" valign="top" align="left">
<div style="FONT-SIZE: 10pt">SOLE VOTING POWER</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">0</div>
</td>
</tr>

<tr>
<td style="WIDTH: 4%; BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid" valign="top" align="left">
<div>6</div>
</td>
<td style="BORDER-RIGHT: #000000 2px solid; WIDTH: 78%; BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid" valign="top" align="left">
<div>SHARED VOTING POWER</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; DISPLAY: block; TEXT-INDENT: 0pt">1,245,194</div>
</td>
</tr>

<tr>
<td style="WIDTH: 4%; BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid" valign="top" align="left">
<div>7</div>
</td>
<td style="BORDER-RIGHT: #000000 2px solid; WIDTH: 78%; BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid" valign="top" align="left">
<div>SOLE DISPOSITIVE POWER</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; DISPLAY: block; TEXT-INDENT: 0pt">0</div>
</td>
</tr>

<tr>
<td style="WIDTH: 4%; BORDER-LEFT: black 2px solid" valign="top" align="left">
<div>8</div>
</td>
<td style="BORDER-RIGHT: #000000 2px solid; WIDTH: 78%; BORDER-LEFT: black 2px solid" valign="top" align="left">
<div>SHARED DISPOSITIVE POWER</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; DISPLAY: block; TEXT-INDENT: 0pt">1,245,194</div>
</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">
<table id="476b531436a04d84961b8b587259a62f" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 100%" cellspacing="0" cellpadding="2">
<tr>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 10%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">9</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 80%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: black 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div>AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>

<div>&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; DISPLAY: block; TEXT-INDENT: 0pt">1,245,194</div>
</td>
<td style="FONT-SIZE: 8pt; BORDER-TOP: #000000 2px solid; FONT-FAMILY: arial; BORDER-RIGHT: #000000 2px solid; WIDTH: 10%; BORDER-BOTTOM: black 2px solid" valign="top">&#160; </td>
</tr>

<tr>
<td style="WIDTH: 10%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">10</div>
</td>
<td style="WIDTH: 80%; BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid" valign="top" align="left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 45pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -45pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES</div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 45pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: -45pt">&#160;</div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: wingdings; BORDER-RIGHT: #000000 2px solid; WIDTH: 10%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">o</td>
</tr>

<tr style="HEIGHT: 50px">
<td style="WIDTH: 10%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">11</div>
</td>
<td style="WIDTH: 80%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: black 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div>PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</div>

<div>&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; DISPLAY: block; TEXT-INDENT: 0pt">0.6%</div>
</td>
<td style="FONT-SIZE: 8pt; FONT-FAMILY: arial; BORDER-RIGHT: #000000 2px solid; WIDTH: 10%; BORDER-BOTTOM: black 2px solid" valign="top">&#160; </td>
</tr>

<tr>
<td style="WIDTH: 10%; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">12</div>
</td>
<td style="WIDTH: 80%; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; BORDER-LEFT: black 2px solid; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">TYPE OF REPORTING PERSON</div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">CUSIP No. Y8162K121</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Item 1(a)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: bold; FONT-STYLE: normal"><u>Name of Issuer</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">:</font></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The name of the issuer is Star Bulk Carriers Corp (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Company</font>&#8221;).</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Item 1(b)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: bold; FONT-STYLE: normal"><u>Address of Issuer's Principal Executive Offices</u></font><font style="FONT-WEIGHT: bold">:</font></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The Company&#8217;s principal executive offices are located at 40 Agiou Konstantinou Str., Maroussi 15124, Athens, Greece.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Item 2(a)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: bold; FONT-STYLE: normal"><u>Name of Person Filing</u></font>:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">This statement is filed by Excel Maritime Carriers LLC, a company organized under the laws of Liberia (&#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Excel</font>&#8221;) and Excel Maritime Holding Company LLC, a company organized under the laws of the Marshall Islands (&#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Excel Holdings</font>&#8221; and, together with Excel, the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Reporting Persons</font>&#8221; and each, a &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Reporting Person</font>&#8221;).&#160; Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The address of the business office of Excel is Par La Ville Place, 14 Par La Ville Road, Hamilton HM JX Bermuda.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The address of the business office of Excel Holdings is c/o The Trust Company of the Marshall Islands, Inc., Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH 96960.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Item 2(c)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Excel is organized under the laws of Liberia.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Excel Holdings is organized under the laws of the Marshall Islands.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Item 2(d)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: bold; FONT-STYLE: normal"><u>Title of Class of Securities</u></font>:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Common Stock, par value $0.01 per share (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Common Stock</font>&#8221;)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: bold; FONT-STYLE: normal"><u>CUSIP Number</u></font>:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Y8162K121</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">CUSIP No. Y8162K121</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: bold; FONT-STYLE: normal"><u>If this statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or (c), check whether the person filing is a</u></font>:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(a)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Broker or dealer registered under Section 15 of the Act,</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(b)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Bank as defined in Section 3(a)(6) of the Act,</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 83%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(c)</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">&#9744;</div>
</td>
<td style="WIDTH: 83%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Insurance Company as defined in Section 3(a)(19) of the Act,</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 83%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(d)</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">&#9744;</div>
</td>
<td style="WIDTH: 83%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Investment Company registered under Section 8 of the Investment Company Act of 1940,</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 83%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(e)</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">&#9744;</div>
</td>
<td style="WIDTH: 83%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Investment Adviser in accordance with Rule 13d-1 (b)(1)(ii)(E),</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 83%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(f)</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">&#9744;</div>
</td>
<td style="WIDTH: 83%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Employee Benefit Plan or Endowment Fund in accordance with 13d-1 (b)(1)(ii)(F),</div>
</td>
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<tr>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 83%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(g)</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">&#9744;</div>
</td>
<td style="WIDTH: 83%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Parent Holding Company or control person in accordance with Rule 13d-1(b)(1)(ii)(G),</div>
</td>
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<tr>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 83%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(h)</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">&#9744;</div>
</td>
<td style="WIDTH: 83%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Savings Association as defined in Section 3(b) of the Federal Deposit Insurance Act,</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 83%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(i)</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">&#9744;</div>
</td>
<td style="WIDTH: 83%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Church Plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940,</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 83%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(j)</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">&#9744;</div>
</td>
<td style="WIDTH: 83%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Group, in accordance with Rule 13d-1(b)(1)(ii)(J).</div>
</td>
</tr>
</table>

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

<table id="d718e3f52759461bafa8c7341d01fc2b" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">If this statement is filed pursuant to Rule 13d-1(c), check this box:&#160;&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#9746;</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Item 4</div>
</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: bold; FONT-STYLE: normal"><u>Ownership</u></font>:</div>
</td>
</tr>
</table>

<div><br />
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The percentages used herein and in the rest of this Schedule 13G are calculated based upon a total of 219,105,712 shares of Common Stock issued and outstanding as of November 25, 2015. The percentages and amounts shown below are for each Reporting Person.</div>

<div><br />
</div>

<table id="4d9a4e741a764517a6a601011efe5f4a" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 9.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 86.24%; VERTICAL-ALIGN: top" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(a) Amount beneficially owned: 1,245,194</div>
</td>
</tr>

<tr>
<td style="WIDTH: 9.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 2.38%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 83.86%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 9.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 86.24%; VERTICAL-ALIGN: top" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(b) Percent of class: 0.6%</div>
</td>
</tr>

<tr>
<td style="WIDTH: 9.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 2.38%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 83.86%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 9.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 2.38%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(c)</div>
</td>
<td style="WIDTH: 83.86%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(i) Sole power to vote or direct the vote: -0-</div>
</td>
</tr>

<tr>
<td style="WIDTH: 9.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 2.38%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 83.86%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 9.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 2.38%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 83.86%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(ii) Shared power to vote or direct the vote: 1,245,194</div>
</td>
</tr>

<tr>
<td style="WIDTH: 9.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 2.38%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 83.86%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 9.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 2.38%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 83.86%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(iii) Sole power to dispose or direct the disposition: -0-</div>
</td>
</tr>

<tr>
<td style="WIDTH: 9.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 2.38%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 83.86%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 9.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3.88%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 2.38%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 83.86%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(iv) Shared power to dispose or direct the disposition: 1,245,194</div>
</td>
</tr>
</table>

<div><br />
</div>

<table id="54dc5aa5b4444b84974fc46f744d013d" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Item 5</div>
</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: bold; FONT-STYLE: normal"><u>Ownership of Five Percent or Less of a Class</u></font>:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
</tr>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">If this statement is being filed to report the fact that as of the date hereof the reporting&#160;person&#160;has ceased to be the&#160;beneficial owner&#160;of more than 5 percent of the class of&#160;securities, check the following: <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#9746;</font></div>
</td>
</tr>
</table>

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

<table id="8955d6e3fefd4bc0b261d08eb95f25c8" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr style="HEIGHT: 28px">
<td style="WIDTH: 10%; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; MARGIN-TOP: 0px">Item 6</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: bold; FONT-STYLE: normal"><u>Ownership of More than Five Percent on Behalf of Another Person</u></font>:</div>
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<tr>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Excel expects to distribute the shares of Common Stock it owns to Excel Holdings, which will then distribute the shares of Common Stock to its equityholders, which include entities affiliated with Oaktree Capital Management, L.P. and entities affiliated with Angelo, Gordon &amp; Co.</div>

&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">CUSIP No. Y8162K121</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 60%; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="bottom">SCHEDULE 13G</td>
<td style="BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid; WIDTH: 20%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right; BORDER-LEFT: black 2px solid" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: right; MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Page&#160;6 of&#160;7</div>
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<div>&#160;</div>

<table id="95887ffff9d24c4eb4ed3c3f890a8ed1" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Item 7</div>
</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: bold; FONT-STYLE: normal"><u>Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company</u></font><font style="FONT-WEIGHT: bold">:</font></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
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<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Not Applicable</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
</tr>

<tr style="HEIGHT: 14px">
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Item 8</div>
</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: bold; FONT-STYLE: normal"><u>Identification and Classification of Members of the Group</u></font><font style="FONT-WEIGHT: bold">:</font></div>
</td>
</tr>

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<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
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<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Not Applicable</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
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<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Item 9</div>
</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: bold; FONT-STYLE: normal"><u>Notice of Dissolution of Group</u></font>:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
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<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
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<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Not Applicable</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
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<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Item 10</div>
</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: bold; FONT-STYLE: normal"><u>Certification</u></font>:</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Each of the Reporting Persons hereby makes the following certification:</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">&#160;</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 90%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.</div>
</td>
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<div>&#160;</div>

<div>&#160;</div>

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

<div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">CUSIP No. Y8162K121</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 60%; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="bottom">SCHEDULE 13G</td>
<td style="BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid; WIDTH: 20%; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right; BORDER-LEFT: black 2px solid" valign="top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: right; MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Page&#160;7 of&#160;7</div>
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</div>

<br />
</div>

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

<div><br />
</div>

<div><br />
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.</div>

<div><br />
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Dated: February 16, 2016</div>

<div><br />
</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">
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<tr>
<td style="WIDTH: 50%" valign="top">&#160;</td>
<td style="WIDTH: 38%" valign="top" colspan="2"><strong>EXCEL MARITIME CARRIERS LLC</strong></td>
<td style="WIDTH: 12%" valign="top">&#160;</td>
</tr>

<tr style="HEIGHT: 17px">
<td style="WIDTH: 50%" valign="top">&#160;</td>
<td style="WIDTH: 3%" valign="top">&#160;</td>
<td style="WIDTH: 35%" valign="top">&#160;</td>
<td style="WIDTH: 12%" valign="top">&#160;</td>
</tr>

<tr>
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<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
</td>
<td style="WIDTH: 3%; PADDING-BOTTOM: 2px" valign="top">
<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">By: </div>
</td>
<td style="WIDTH: 35%; BORDER-BOTTOM: #000000 2px solid" valign="top" nowrap="nowrap" align="left">/s/&#160;Pavlos Kanellopoulos</td>
<td style="WIDTH: 12%; PADDING-BOTTOM: 2px" valign="top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%" valign="top">&#160;</td>
<td style="WIDTH: 3%" valign="top">&#160;</td>
<td style="WIDTH: 35%" valign="bottom" nowrap="nowrap" align="left">Name:&#160; Pavlos Kanellopoulos</td>
<td style="WIDTH: 12%" valign="top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%" valign="top">&#160;</td>
<td style="WIDTH: 3%" valign="top">&#160;</td>
<td style="WIDTH: 35%" valign="top">Title: Chief Financial Officer</td>
<td style="WIDTH: 12%" valign="top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%" valign="top">&#160;</td>
<td style="WIDTH: 3%" valign="top">&#160;</td>
<td style="WIDTH: 35%" valign="top">&#160;</td>
<td style="WIDTH: 12%" valign="top">&#160;</td>
</tr>
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<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>&#160;

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">
<table id="cbbfe312265c4f6cb963bbf6b30e29a7" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: separate" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 50%" valign="top">&#160;</td>
<td style="WIDTH: 38%" valign="top" colspan="2"><strong>EXCEL MARITIME HOLDING COMPANY LLC</strong></td>
<td style="WIDTH: 12%" valign="top">&#160;</td>
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<tr style="HEIGHT: 17px">
<td style="WIDTH: 50%" valign="top">&#160;</td>
<td style="WIDTH: 3%" valign="top">&#160;</td>
<td style="WIDTH: 35%" valign="top">&#160;</td>
<td style="WIDTH: 12%" valign="top">&#160;</td>
</tr>

<tr>
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<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
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<td style="WIDTH: 3%; PADDING-BOTTOM: 2px" valign="top">
<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">By: </div>
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<td style="WIDTH: 12%; PADDING-BOTTOM: 2px" valign="top">&#160;</td>
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<tr>
<td style="WIDTH: 50%" valign="top">&#160;</td>
<td style="WIDTH: 3%" valign="top">&#160;</td>
<td style="WIDTH: 35%" valign="bottom" nowrap="nowrap" align="left">Name:&#160; Pavlos Kanellopoulos</td>
<td style="WIDTH: 12%" valign="top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%" valign="top">&#160;</td>
<td style="WIDTH: 3%" valign="top">&#160;</td>
<td style="WIDTH: 35%" valign="top">Title: Chief Financial Officer</td>
<td style="WIDTH: 12%" valign="top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%" valign="top">&#160;</td>
<td style="WIDTH: 3%" valign="top">&#160;</td>
<td style="WIDTH: 35%" valign="top">&#160;</td>
<td style="WIDTH: 12%" valign="top">&#160;</td>
</tr>
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<div>&#160;</div>

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